An inclusive, multi-stakeholder climate finance solution to advance the global energy transition
- The ETAF Platform launched in 2021 aims to mobilize approximately US $1 billion to support the energy transition by 2030.
About ETAF
ETAF benefits from the institutional convening power of IRENA, the United Arab Emirates (UAE), and Abu Dhabi Fund for Development (ADFD), their commitment to accelerate deployment of low-carbon proven technologies, and track record of the IRENA-ADFD Facility implemented during 2013-2020.
The IRENA/ADFD Facility co-financed 26 renewable projects in 21 developing countries, creating socioeconomic and climate resilience benefits for over 4 million people in their communities.
The UAE via the ADFD anchors the ETAF with an allocation of USD 400 million to support renewable energy projects in developing countries, members of IRENA. IRENA will manage the ETAF platform and facilitate the Funding Partners access to a pipeline of project opportunities.
Strategy
- Building and channeling a robust pipeline of investment-ready projects from IRENA's member countries, with a keen focus on developing countries.
- Matchmaking funding of RE projects, subject to ETAF’s Funding Partners’ due diligence and credit approval processes.
- Capitalizing on the complementarities of the Funding Partners resulting in innovative financial solutions to scale up renewable energy technologies.
What ETAF offers:
PROJECT DEVELOPERS: ETAF is open to review commercially feasible projects
A) Access to funding via an Open Climate Finance Platform
- ETAF offers developers access to funding provided by its Partners as well as other co-funding sources collaborating with IRENA
B) Technical Assistance
- ETAF offers developers access to IRENA resources and experts providing curated guidance and technical assistance targeted to local and regional developers
- ETAF’s team will hold a rolling “Call for Projects”, and periodically conduct activities to offer guidance on projects’ registration and submission process, eligibility, and selection criteria
FUNDING PARTNERS – The UAE and ADFD are the first funding partners. The ETAF will incorporate new Funding Partners during 2022-2023.
b) Co-Financing and Co-Investment Opportunities
- ETAF offers access to co-financing/ co-investment opportunities with its Partners based on a common approach to credit risk, objectives, and procedures.
c) Funding Partners’ Credit and Risk Procedures
- ETAF offers access to co-financing/ co-investment opportunities with its Partners based on a common approach to credit risk, objectives, and procedures.
