Abu Dhabi Exports Office to Finance Solar Facility in West Africa

• Set up by Abu Dhabi Fund for Development for financial objectives, the Abu Dhabi Exports Office (ADEX), will certainly provide loan worth AED92 million ($25 million) to augment the capacity of a solar facility in Togo, West Africa.

As offered by the agreement, ADEX will certainly provide extra financing, to assist in the acquisition of a 4 megawatt-hour (MWh) solar energy production storage system.

Set up by Abu Dhabi Fund for Development for economic objectives, the Abu Dhabi Exports Office (ADEX), will offer loan worth AED92 million ($25 million) to augment the capacity of a solar facility in Togo, West Africa.

Towards this objective, ADEX has entered into an agreement with the Ministry of Economy and Finance in Togu to speed up the production capacity of the Mohammed bin Zayed Solar Park, which will be elevated from 50 MW to 70 MW.

As given by the agreement, ADEX will supply additional financing, to assist in the purchase of a 4 megawatt-hour (MWh) solar energy production storage system. Dubai-based programmer and driver of renewable resource, EMEA Power implement the construction as well the procedure of the new facility.

With the turning up of the solar facility, the sustainable component in the energy mix of Togo will certainly see a surge while also making energy much more easily accessible to the people in the country. The African country is wanting to curb carbon dioxide discharges by 9,500 tonnes each year.

"The agreement sustains the continuation of Abu Dhabi Fund for Development (ADFD) to the Mohamed bin Zayed Solar Energy Complex in Togo," said Mohamed Saif Al Suwaidi, Director General of ADFD.

The initial phase of the project was funded last year at AED55 million.

Last month ADEX and National Bank of Iraq signed a line-of-credit agreement valued at $10 million. In July 2022, ADFD and ADEX became part of two loan agreements towards the funding of a project in Bahrain.