logo
Comoros inaugurates 6.3MW solar plant funded by ADFD

Comoros inaugurates 6.3MW solar plant funded by ADFD

Trade Arabia24-04-2025

Abu Dhabi Fund for Development (ADFD) marked the inauguration of a 6.3-megawatt solar power plant in the Comoros, funded with AED25.7 million ($7 million).
The project enhances the nation's energy infrastructure, helping meet growing energy demands and stimulate economic growth, while highlighting the Fund's commitment to environmental responsibility and sustainable advancement, reported WAM.
Aligned with the UAE's global development strategy and the UN Sustainable Development Goals (SDGs), the initiative demonstrates a shared commitment to expanding clean energy access and building long-term resilience in partner nations.
The solar plant will provide a reliable, renewable energy source for Moroni, the capital, and nearby regions, reducing dependence on fossil fuels, cutting carbon emissions, and improving the quality of life for residents.
The inauguration ceremony was led by Azali Assoumani, President of the Union of the Comoros, in the presence of Jumaa Rashed Al Remeithi, Ambassador of the United Arab Emirates to the Union of the Comoros, alongside government representatives from both nations.
Praised the partnership, Azali Assoumani, President of the Union of the Comoros, said: 'The UAE has a remarkable record in driving renewable energy advancements and climate action. ADFD's role in supporting sustainable energy projects is commendable, reinforcing global sustainability principles and leveraging innovative technologies to expand access to clean energy.'
He highlighted the project's transformative impact adding: 'Our collaboration with ADFD has been instrumental in achieving our development goals and our shared commitment to protecting our planet. This solar plant represents more than just an energy project; it is a milestone in our transitional journey to clean energy, strengthening economic stability and generating new job opportunities.'
For his part, Al Remeithi said: 'This significant project reflects the close ties between the UAE and the Union of the Comoros, demonstrating the UAE's unwavering commitment to promote sustainable development and enhance strategic partnerships across vital sectors, particularly renewable energy. The initiative is regarded as a prominent step toward achieving environmental stability, which highlights the UAE's dedication to supporting clean energy projects, showcasing the country's keenness to strengthen global efforts to address climate change.'
Mohamed Saif Al Suwaidi, Director General of ADFD, said: 'This solar plant marks a milestone in advancing economic and social development in the Comoros. By investing in renewable energy, we contribute to long-term sustainability and environmental responsibility. We remain committed to working closely with our partners to ensure this project delivers lasting benefits for present and future generations.'
He emphasised ADFD's focus on clean energy as a driver of stability, adding that the support for the energy sector is a priority for ADFD, given its critical role in reducing reliance on fossil fuels and lowering carbon emissions. 'Our investment in clean energy projects reflects our commitment to drive economic stability and a sustainable future,' he remarked.
The solar plant will integrate with the Comoros' national grid via medium-voltage lines, ensuring stable electricity access for the region. This project underscores the Fund's longstanding partnership with the Comoros, which has included AED 439.4 million ($ 119.6 million) in concessional loans and grants since 1979 to fund critical sectors such as energy, health, education, and transport.
By advancing clean energy infrastructure, the initiative directly supports SDG 7 (Affordable and Clean Energy), SDG 13 (Climate Action), and SDG 17 (Partnerships for the Goals), while fulfilling ADFD's mandate to drive sustainable development globally.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Infracorp Showcases the Kingdom's First Sustainable Sukuk
Infracorp Showcases the Kingdom's First Sustainable Sukuk

Biz Bahrain

time12-06-2025

  • Biz Bahrain

Infracorp Showcases the Kingdom's First Sustainable Sukuk

Infracorp, a leading specialised company in investing in the infrastructure and sustainable development sector, has announced its participation in a United Nations workshop recently held in Bahrain to highlight the Kingdom's contribution to global efforts in financing sustainable development. The company presented its pioneering experience in issuing Bahrain's first sustainable sukuk. Infracorp took part in a panel discussion entitled 'Innovative Financing Instruments: SDG-Linked Bonds and Sukuk'. Ms. Zeeba Askar, Chief Sustainability and Investment Officer at Infracorp, delivered a presentation titled 'Bahrain's First Sustainable Sukuk'. She outlined the company's transition from green sukuk to a broader sustainable sukuk framework in line with international trends for financing projects with environmental and social impact. Ms. Askar confirmed that Infracorp's sustainable sukuk framework is fully aligned with the ICMA's Green, Social and Sustainability Bond Principles, supports Bahrain's Economic Vision 2030 and is consistent with the United Nations SDGs. She added that the framework's governance is underpinned by an independent, accredited external opinion to ensure transparency and credibility. The company has mapped key performance indicators, adopted a rigorous project-selection mechanism based on expected outcomes, and issues regular reports to measure each project's environmental and social impact. Commenting on the occasion, Ms Askar said: 'Our objective went beyond issuing a conventional finance instrument; it was about setting a standard for what a Sustainable Sukuk should represent. We carefully built a framework aligned with Bahrain's Economic Vision 2030 and the UN Sustainable Development Goals, with measurable KPIs mapped across every eligible project. The result is a Sukuk rooted in transparency, governed by rigor, and driven by real-world impact.' The workshop highlighted Bahrain's leading efforts in development finance, including Islamic finance, SDG-linked bonds and the fintech sector, ahead of the fourth International Conference on Financing for Development (FfD4), scheduled to take place in Seville, Spain, from June 30 to July 3, 2025. It brought together UN officials, public-sector representatives and private-sector partners to discuss the Kingdom's participation in the conference. FfD4 will serve as a pivotal platform to assess progress on global commitments to finance sustainable development and to address challenges that have emerged since the adoption of the Addis Ababa Action Agenda in 2015. The conference will gather high-level representatives from governments, international and regional organisations, financial and commercial institutions, the private sector, civil society and the United Nations system.

BDB Highlights the Impact of Its Farmers Market Initiative in Boosting Local Agriculture and Food Security
BDB Highlights the Impact of Its Farmers Market Initiative in Boosting Local Agriculture and Food Security

Biz Bahrain

time27-05-2025

  • Biz Bahrain

BDB Highlights the Impact of Its Farmers Market Initiative in Boosting Local Agriculture and Food Security

Bahrain Development Bank (BDB), the Kingdom's leading bank dedicated to supporting small and medium-sized enterprises (SMEs), has released its latest insights on the impact of its Farmers Market initiative in Hoorat A'ali — a key platform driving local agriculture, empowering Bahraini farmers and families, and enhancing food security. This key initiative plays an essential role in providing direct, year-round access to a diverse selection of fresh, locally produced goods, offering farmers a valuable platform to grow their businesses and increase sales. The Farmers Market initiative reflects BDB's active role in supporting national efforts to boost food security, while also advancing several United Nations Sustainable Development Goals (SDGs) — including: No Poverty, Zero Hunger, Decent Work and Economic Growth, and Partnerships for the Goals. The Farmers Market is considered one of the Kingdom's most successful local initiatives, attracting over 200,000 visitors annually. It features more than 50 kiosks, cafes, and restaurants serving freshly prepared local dishes. The market also supports 21 local farmers, 18 Bahraini productive families, and three commercial ventures, all of which contribute to increased domestic production and stimulate the national economy. Given that Bahrain currently imports around 95% of its food requirements, the Farmers Market plays a crucial role in reducing this dependency by nurturing the local agricultural sector. It also encourages the growth of SMEs, in line with the Kingdom's broader economic vision to achieve sustainable development in agriculture.

AW Rostamani unit to install rooftop solar capacity
AW Rostamani unit to install rooftop solar capacity

Trade Arabia

time05-05-2025

  • Trade Arabia

AW Rostamani unit to install rooftop solar capacity

AW Rostamani (AWR) Group, one of the UAE's leading family business groups, and Positive Zero, a decentralised decarbonisation infrastructure business, have signed an agreement to install 460 kWp (kilowatt peak) of rooftop solar capacity at the production facility of Sineo Packaging Manufacturing, a sustainable packaging manufacturer under AWR Group's diversified portfolio. This agreement marks AWR Group's sixth agreement with Positive Zero (and its subsidiaries), bringing the total solar capacity to 2.7 MWp across six facilities. The solar project at Sineo Packaging Manufacturing builds upon AWR Group's continued commitment to renewable energy, including a 2023 partnership with Positive Zero's Distributed Generation arm (SirajPower) to deploy solar solutions across five principal locations in Dubai: • AW Rostamani Central Warehouse, Dubai Internet City (DIC), in operation • Arabian Automobiles, Nissan Showroom, in operation • Arabian Automobiles, Service Center, SZR, in operation • Arabian Automobiles, Nissan Service Center, Deira, in operation • AWR Parts Distribution Centre in DIC, under construction since December 2024 Under operations, the six solar-powered facilities will cut an average of 3,000 metric tons of carbon emissions every year, equivalent to the carbon sequestered by planting 50,000 trees, powering the entire energy needs of 400 homes annually. The signing ceremony was held at the manufacturing facility of Sineo Packaging located in Dubai Industrial City and was attended by Wayne Beifus, Chief Financial Officer, AWR Group, Antoine Moussali, CEO, Sineo Packaging Manufacturing, David Auriau, Group CEO, Positive Zero, and Laurent Longuet, CEO, SirajPower, a Positive Zero company, among other company executives. Wayne Beifus, Chief Financial Officer, AWR Group, said: 'AWR Group is committed to actively incorporating sustainability initiatives across various verticals, ensuring a positive social, environmental, and economic impact. This solar installation at Sineo Packaging is an extension of the Group's ongoing sustainability efforts and aligns with our organisation-wide ESG framework, which supports the Net Zero aspirations of the UAE and helps meet the UN Sustainable Development Goals. We seek to make a meaningful and enduring impact — in business, on people, and on the world at large.' David Auriau, Chief Executive Officer of Positive Zero, stated: "Our mission extends beyond providing solar solutions; it is about helping our clients drive transformative change towards environmental responsibility through a fast, simple and profitable sustainability roadmap. We are proud to partner with AW Rostamani Group on this project, building on our long-standing relationship which includes six successful projects to date. This installation will provide Sineo Packaging with clean energy and contribute to a more decarbonized future for the UAE." Sineo Packaging Manufacturing is the region's only sustainable packaging manufacturer. The 460 kWp solar capacity will enable Sineo Packaging Manufacturing to generate approximately 7.7 Gigawatt-hours (GWh) of clean energy across a 10-year lease period - a testimony to the company's commitment to sustainable operations. Antoine Moussali, CEO, Sineo Packaging Manufacturing, added: 'We have taken our commitment to sustainability one step further - not only do we create sustainable products, but we now manufacture them sustainably as well. This partnership with Positive Zero to install significant solar capacity at our Dubai Industrial City facility is a powerful testament to our commitment to eco-friendly practices. Generating our own clean energy will substantially reduce our carbon footprint and aligns perfectly with our mission to provide innovative and environmentally responsible packaging solutions for the food and beverage sector.' Laurent Longuet, CEO, Positive Zero's Distributed Generation arm (SirajPower), further commented: 'We are excited to be building and expanding our energy transition efforts with one of the most esteemed and renowned conglomerates in the UAE. AW Rostamani has proven its commitment and leadership time and again not only through its growth and business successes but also towards a Net Zero mandate. With supportive regulatory initiatives on the ground, Commercial & Industrial businesses today can harness solar energy and reap its short-term and long-term environmental and economic benefits.' Sineo Packaging Manufacturing produces innovative, food-safe, and eco-friendly solutions for the food and beverage sector worldwide. The company offers a wide range of recyclable, biodegradable, and compostable options with customisable branding, serving over 200 businesses globally. The manufacturing facility has 15 high-speed production lines with an annual production capacity of 400 million units.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store