(CMC) – The Abu Dhabi Fund for Development (ADFD) and the International Renewable Energy Agency (IRENA) are providing a USD$8-million loan for the construction of a 5.2-megawatt (MW) grid-connected solar PV system to provide a reliable and efficient supply of electricity to Guyana’s hinterland region.
A government statement said that the funding will ensure the provision of energy access and advance sustainable development for selected hinterland communities.
Public Infrastructure Minister David Patterson attended the sixth cycle of the IRENA/ADFD Project Facility in the United Arab Emirates (UAE) where the loan agreement was finalised.
The statement said that the Installation of the 5.2-megawatt (MW) grid-connected solar PV systems will in turn reduce fossil fuel consumption and increase the reliability of electricity supply.
“An estimated 34,700 people in the targeted areas will benefit and around 120 direct, and indirect jobs are set to be created throughout the project life-cycle,” the statement noted.
IRENA Director-General Adnan Z. Amin said the projects selected this year will contribute towards meeting national energy access targets and will transform lives for the better.
“They will take advantage of cost-effective renewable energy to help reduce poverty, enable income-generating activities, and provide electricity to healthcare facilities and educational institutions, which will create jobs, empower women, and strengthen local communities,” said Amin.
Since the first cycle selection of projects in 2014, ADFD funding has been allocated to 24 renewable energy projects across the world, covering up to 50 per cent of the total project costs.