Abu Dhabi Fund for Development (ADFD), a national institution under the Abu Dhabi government, discussed potential co-operation and JV agreements in the renewable sector in developing countries with top renewable energy agency officials.

ADFD is currently financing various energy-relates project in many developing countries such as new dams, power plants, and water projects.

Mohammed Saif Al Suwaidi, acting director general of ADFD met Helene Pelosse, director general of International Renewable Energy Agency (IRENA) at the Fund's offices in Abu Dhabi and congratulated her for heading the Abu Dhabi-based Irena.

The Abu Dhabi Government is providing Dh183 million ($50 million) as concessionary loans to developing countries through ADFD.

Al Suwaidi later highlighed the outstanding focus on renewable energy that the emirate is undertaking with initiatives such as Masdar, the world's first carbon-zero city, Zayed Award for Future Energy and Masdar Institute for Science and Technology.

Stressing that ADFD's policy takes into consideration the environmentally-friendliness of any project when giving go-ahead to finance it, Al Suwaidi said, 'Renewable energy is one of the vital sector for ADFD, given its pivotal role in saving energy for generations to come in developing countries.'-TradeArabia News Service