Abu Dhabi gives $ 17.4 million to fund 2 renewable energy projects in Seychelles
The five wind turbines at Ile de Romainville and three at Ile du Port provided by Abu Dhabi-based energy company Masdar as a grant from the government of the United Arab Emirates. (Patrick Joubert)
(Seychelles News Agency) - Seychelles will receive funding for two renewable energy projects at a price of $17.4 million from the Abu Dhabi Fund for Development (ADFD), a communique from Seychelles' embassy in the United Arab Emirates said on Monday.
The announcement comes as the president of Seychelles, Danny Faure, attends the founding conference of the International Solar Alliance in India.
The project agreements were signed by the Fund’s director general, Mohammed Saif Al Suwaidi, with Seychelles’ environment minister, Didier Dogley, and Philippe Morin, the chief executive of the island nation’s Public Utilities Corporation.
|The signing of the projects Mohammed Saif Al Suwaidi, with Seychelles’ environment minister, Didier Dogley (top) and Philippe Morin. (Seychelles Embassy in UAE) Photo license: CC-BY|
The first project will be a solar power field on the manmade island of Romainville that will be developed by Masdar -- a renewable energy company -- based in Abu Dhabi. The other project will be the installation of a transmission line in the main island of Mahe.
Speaking at the signing ceremony, Dogley said, “The two agreements we signed today will contribute to the development of the energy sector and meeting the increasing demand for electricity in the Seychelles."
On his side, Al Suwaidi said, “Our latest initiative to fund two high-potential projects in Seychelles validates our sustained efforts to promote the widespread adoption of renewable energy in developing countries.”
He added that “the funding also reiterates ADFD’s commitment to supporting the efforts of the government of the Seychelles in meeting the country’s energy needs from sustainable resources.”
The director general of the Fund said that since 1979, the Abu Dhabi Fund for Development has shared outstanding relations with the government of the Seychelles.
“We have successfully financed development projects to the tune of AED399 million ($108.6 million) across various regions in the country. These projects are focused on strategic sectors that promote sustainable economic development in the Seychelles including housing, telecommunications, transport and energy,” said Al Suwaidi.
The Abu Dhabi Fund for Development (ADFD) which was set up July 1971, is an autonomous national entity affiliated with Abu Dhabi government. The Fund aims is to help developing countries to achieve sustainable socio-economic growth through financial assistance in the forms of concessionary loans, managing government grants and equities.
The two projects the ADFD is funding in Seychelles, a group of 115 islands in the western Indian Ocean, will enhance the country's capacity to produce renewable energy from sustainable resources.
The solar power field project on Ile Romainville is designed to contribute to the economic and social development of Seychelles through supporting the energy sector and increasing the share of renewable energy in the country’s energy mix.
While the transmission line on Mahe will help the island nation meet the electricity demand driven by the growth of commercial, residential and tourism establishments on the main island.