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ADFD rounds up 2020 with project allocations worth over AED622 million
ABU DHABI, 21st January, 2021 (WAM) Abu Dhabi Fund for Development (ADFD) continued to advance its sustainable development agenda within the country and abroad through clean-energy initiatives.
The number of projects funded and completed by the Fund in 2020 - covering the renewable energy sector - reached 16 projects, amounting to AED622.6 million.
The Fund completed five crucial renewable energy projects in five partner countries, including Cuba, Somaliland, the Bahamas, Barbados, and Saint Vincent and the Grenadines.
The projects worth AED117.3 million not just enabled the countries to reduce their carbon footprint by infusing a total of 14.38MW into the energy mix, but they also brought about a host of economic benefits.
Masdar doubles clean energy capacity over 2 years
ABU DHABI, January 21, 2021 Masdar, a leader in renewable energy and a subsidiary of Mubadala Development, said in its 2020 Annual Sustainability Report that it has more than doubled its clean energy capacity over two years to generate enough electricity to power over four million homes. The capacity of the renewable energy projects that Masdar is a partner in has risen to over 10.7 GW in 2020 from 4 GW in 2019, with the company’s global operating clean energy portfolio displacing close to 6.5 million metric tons of CO2 annually, reported Emirates News Agency
WAM. The report spans the entire scope and scale of Masdar’s operations in the UAE and overseas and has been prepared in accordance with Global Reporting Initiative (GRI) Standards: Core Option. It discloses Masdar’s impact in 2020, amidst the pandemic, examining KPIs across operational and environmental impact, social contribution, human capital, and governance.