“Our partnership has amplified our ability to support renewable energy projects globally, particularly in nations facing the dual challenges of limited energy access and vulnerability to climate change,” H.E. Mohamed Saif Al Suwaidi said

Abu Dhabi – His Excellency Mohamed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development (ADFD), participated in the 15th session of the International Renewable Energy Agency (IRENA) Assembly, convened in Abu Dhabi on January 12-13.

The event provided a platform for global leaders and energy decision-makers from multilateral organizations, private sector stakeholders, and development partners to assess progress and outline actionable strategies to accelerate the global energy transition.

Solution-oriented discussions at the Assembly focused on critical enablers, including investments, energy planning, decarbonization of end-use sectors, and renewable energy development.

Delivering a keynote speech during a panel discussion titled “Innovative Sustainable  Finance” His Excellency Al Suwaidi underscored the Fund’s commitment to energy transition globally, highlighting the Fund’s achievements in advancing global renewable energy projects, particularly through its longstanding partnership with IRENA.

“Our partnership has amplified our ability to support renewable energy projects globally, particularly in nations facing the dual challenges of limited energy access and vulnerability to climate change,” he said. Together, we have established unique mechanisms to accelerate clean energy development, enabling transformative progress towards Sustainable Development Goals (SDGs), and improving the quality of life for millions of people worldwide.”

H.E. Al Suwaidi reflected on the successes of the IRENA/ADFD Project Facility, which mobilized US$350 million in concessional financing over seven funding cycles from 2013 to 2020. This initiative supported 26 projects across Asia, Africa, and Latin America, significantly benefiting Small Island Developing States (SIDS). These projects have provided clean energy access to over 4 million people, created jobs, and bolstered socio-economic stability.

He also highlighted the Energy Transition Accelerator Financing (ETAF) Platform, launched in partnership with IRENA in 2021 as part of this ongoing legacy. The initial goal of the platform was to mobilize US$1 billion by 2030, and today along with 14 partners we have successfully mobilized US$4.2 billion to support renewable energy projects in developing countries. ADFD has committed US$400 million to the platform to drive transformative progress through solar, wind, hydroelectric, and bioenergy solutions.

H.E. Al Suwaidi said: “Energy transition is central to our development efforts, reflecting the UAE’s commitment to sustainability and global climate action as highlighted during COP28. By offering affordable financing terms, we empower countries to undertake renewable energy projects that might otherwise remain out of reach. This approach delivers far-reaching benefits, creating jobs, enhancing energy security, raising the quality of life through wider access to healthcare and education, and reducing emissions.”

The IRENA Assembly, a cornerstone event in global energy governance, reaffirmed the UAE’s leadership in promoting renewable energy and sustainable development. The 15th session reflected the urgent need for international collaboration to overcome barriers and scale up renewable energy deployment, ensuring progress toward the shared goal of tripling renewable energy capacity by 2030.

About Abu Dhabi Fund for Development (ADFD)

Abu Dhabi Fund for Development (ADFD) is an autonomous UAE institution, committed to advancing sustainable development worldwide in alignment with the national vision. Established in 1971 by the Abu Dhabi government, the Fund provides concessional loans and grants to developing countries for strategic projects, while also making long-term investments and direct contributions. Additionally, ADFD actively supports the UAE’s national economy by financing private sector investments and promoting Emirati exports through the Abu Dhabi Exports Office (ADEX). Over half a century, the Fund has supported 107 developing countries, with its projects and investments totaling around AED 216 billion. These efforts have contributed to the global advancement towards the United Nations’ Sustainable Development Goals (SDGs)