WiredInUSA May 2016

INDEX

Shaking hands on the agreement between ADFD and IRENA

New route from Africa

Renewables funding

The first submarine fiber optic cable is set to be laid between Africa and South America. Telecommunication company Cables SA and information technology provider NEC Corporation have announced the contract to lay the South Atlantic cable system (SACS) to connect the two continents. The cable is expected to begin operations in mid-2018. The estimated cost of $160 million is partially financed by the Bank of Japan for International Cooperation through the Development Bank. It will extend over 6,200km through the South Atlantic and will connect Luanda, the capital of Angola, with Fortaleza in the Brazilian state of Ceara. From Fortaleza the cable will be connected, via another cable, to Miami and so joining Africa with Latin America and the USA for the first time. The Angolan government is promoting the laying of submarine cables, conscious of its potential as a nation of natural resources and its position on the eastern coast of Africa.

Abu Dhabi Fund for Development, ADFD, has signed a new cooperation and support agreement with the Abu Dhabi-based International Renewable Energy Agency, IRENA, to ensure the effective allocation of $350 million of ADFD funds pledged for renewable energy projects in developing countries. The project facility has already allocated $144 million worth of funds to 15 projects from the Pacific to Africa and from the Caribbean to the Middle East. Together, the projects will produce 68MW. The new agreement will see ADFD increase its support for IRENA over the next four years to provide technical and administrative support to encourage proposals from eligible countries, raise awareness, support submissions, assess projects, facilitate preliminary due diligence, explore financing options and measure progress and impact in selected countries to improve the effectiveness of the facility’s work.

ASIA / AFRICA NEWS

wiredInUSA - May 2016

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