Cuba switches on new energy project

ABU DHABI: July 05, 2019. The Abu Dhabi Fund for Development (ADFD), Cuba’s Ministry of Energy and Mines and the International Renewable Energy Agency (IRENA), have inaugurated a new 10 megawatt (MW) solar PV project in the Caribbean country.

The grid-connected project was financed by ADFD with US$15 million under the IRENA/ADFD Project Facility and will deliver enough electricity to power the equivalent of nearly 7,000 Cuban homes.

The solar PV project contributes to the Cuban government’s goal to reduce the use of fossil fuels and increase the share of power from renewables to 24 percent by 2030. The project is expected to will mitigate 12,700 tons of CO2 emissions annually.

The project is part of a US$350 million ADFD initiative launched in 2013 to support renewable energy projects in IRENA-member developing countries.

Director-General Francesco La Camera said: “Today marks an important moment for Cuba and the Cuban people. Renewable energy supports energy security, creates jobs and contributes to emission reductions. This 10MW project sets Cuba on a positive pathway to meeting these objectives and demonstrates that through strategic cooperation we can inject momentum into the energy transition.”

Between 1971 and December 2018 ADFD has provided US$1.187 billion in financing for energy project worldwide now producing 2,584 MW.