Irena invites bids for $350m in developing-world funds

The International Renewable Energy Agency (Irena) has invited applications for the first tranche of $350m funding to boost renewable energy in developing countries.

Applications, which will be accepted until 12 January 2013, are open to government-led or guaranteed projects in Irena member and applicant countries from the developing world.

The United Arab Emirates has committed to providing the $350m to renewables projects endorsed by Irena over seven funding cycles, through the Abu Dhabi Fund for Development (ADFD). The first funding cycle offers $50m.

Irena has developed evaluation guidelines to select projects for funding that are innovative and replicable, broaden access to energy, and address issues identified in the United Nations Millennium Development Goals.

The guidelines also seek…

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