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UAE-Caribbean Renewable Energy Partnership Fund Launches Hurricane-Resistant Clean Energy Plant in Antigua and Barbuda

Strategic Insights

— 2 min read

The UAE-Caribbean Renewable Energy Partnership Fund has announced the start of construction for a hurricane-resistant clean energy plant in Antigua and Barbuda, aimed at helping the nation recover from the devastating effects of Hurricane Irma in 2017. The $50 million fund is the largest renewable energy investment of its type in the region, resulting from a partnership between the UAE Ministry of Foreign Affairs and International Cooperation, the Abu Dhabi Fund for Development, and Abu Dhabi Future Energy Company (Masdar). The project is expected to provide a welcome boost to Antigua and Barbuda's economy, demonstrating the role renewable energy plays in accelerating economic growth and bringing tangible benefits to local communities.

Key Takeaways:

  • The UAE-Caribbean Renewable Energy Partnership Fund has launched a $50 million hurricane-resistant clean energy plant in Antigua and Barbuda to help the nation recover from Hurricane Irma in 2017.
  • The project is a result of a partnership between the UAE Ministry of Foreign Affairs and International Cooperation, the Abu Dhabi Fund for Development, and Abu Dhabi Future Energy Company (Masdar).
  • The clean energy plant will include the construction of an 800 kW diesel power plant, a 720 kWh hybrid solar power plant, and an 863 kWh battery system to store excess electricity generated.
  • The project aims to provide 15% of Antigua and Barbuda's electricity needs from renewable sources by 2030.
  • The UAE-Caribbean Renewable Energy Partnership Fund aims to establish projects in 16 Caribbean countries within three funding cycles to help reduce energy costs, save more, and enhance their resilience to climate conditions.
  • The fund has already inaugurated clean energy projects in the Bahamas, Barbados, and St. Vincent and the Grenadines in March 2019.
  • The project is being developed with joint funding from the UAE and New Zealand and the Caribbean Development Group Fund.

Statistics:

  • $50 million: The total investment in the UAE-Caribbean Renewable Energy Partnership Fund's project in Antigua and Barbuda.
  • 800 kW: The capacity of the diesel power plant being constructed as part of the project.
  • 720 kWh: The capacity of the hybrid solar power plant being constructed as part of the project.
  • 863 kWh: The capacity of the battery system to store excess electricity generated by the project.
  • 15%: The percentage of electricity needed from renewable sources by 2030.
  • 16: The number of Caribbean countries the UAE-Caribbean Renewable Energy Partnership Fund aims to establish projects in within three funding cycles.

Sources:

  • WAM (WAM)
  • UAE Ministry of Foreign Affairs and International Cooperation
  • Abu Dhabi Fund for Development
  • Abu Dhabi Future Energy Company (Masdar)
  • Caribbean Development Group Fund

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