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wiredInUSA - May 2016
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INDEXAbu 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.
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.
New route from Africa
ASIA / AFRICA NEWS
Shaking hands on the agreement
between ADFD and IRENA