Irena’s interim director-general, Adnan Amin, was quoted by Reuters as saying: “For the type of work we are thinking about, the optimal budget is about $250m-$300m.”

That quote was reported out of context, an Irena spokeswoman tells Recharge. In reality, the group does not expect – or require – a budget of that size for a decade or more, until it has become a mature international organisation.

Irena