UAE starts projects under $50m Caribbean renewable energy fund

Partnership between UAE Ministry of Foreign Affairs, Abu Dhabi Fund for Development (ADFD) and Masdar to deploy clean energy projects in 16 countries over next three years

Abu Dhabi: The first three renewable energy projects under the $50-million (Dh183.5 million) UAE-Caribbean Renewable Energy Fund (UAE-CREF) have broken ground in the Bahamas, Barbados and Saint Vincent & the Grenadines, according to the UAE Ministry of Foreign Affairs and International Cooperation (MOFAIC).

Fully financed by the Abu Dhabi Fund for Development (ADFD), the UAE-CREF is the largest renewable energy initiative of its kind in the Caribbean, representing a partnership between MOFAIC, ADFD, and Masdar (Abu Dhabi Future Energy Company), the project manager and implementing lead, a press release issued by MOFAIC stated…

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