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The Abu Dhabi Export Office (ADEX) has signed an agreement with the Togolese Ministry of Economy and Finance.
The collaboration aims to increase the capacity of the Mohamed bin Zayed Solar Park in the country to 70 MW from the current 50 MW.
Additionally, the financing will facilitate the procurement of a 4MWh solar production storage system.
Under the agreement, ADEX will provide a AED92 million ($25 million) loan, while Emirati company EMEA Power will undertake the construction and operation of the new complex. 
The agreement follows a AED37 million ($10 million) financing from ADEX in January this year.
The total value of ADEX’s financial contribution to the Mohamed bin Zayed Solar Park in Togo thus amounts to AED 128.5 million (US$ 35 million).
The agreement was signed by Mohamed Saif Al Suwaidi, Director General of the Abu Dhabi Development Fund and Chairman of the ADEX Executive Committee, and Sani Yaya, Togo’s Minister of Economy and Finance, in the presence of Mawunyo Mila Ami Aziable Hussain Jassim, Togo’s Minister of Energy and Mines and Chairman of the Board of Directors of AMEA Power Al Nowais and ADEX Acting Director General Khalil Al Mansouri.
#AbuDhabiExportsOffice signed an agreement with the Togolese Ministry of Economy and Finance to increase the capacity of the Mohamed bin Zayed Solar PV Complex from the current 50 MW to 70 MW, @AmeaPower The company is responsible for construction and operation. pic.twitter.com/grwinTeLhP
— Abu Dhabi Exports Office (@AbuDhabiExports) December 8, 2022
Al Suwaidi said: “This agreement supports Abu Dhabi Development Fund’s continued contribution to the Mohamed bin Zayed solar complex in Togo, reflecting its enthusiasm for maintaining partnerships with beneficiary countries, as well as Abu Dhabi’s export The office remains determined to cooperate with the country.”
“This is also an important step in enabling UAE companies to increase their presence in global markets. By creating opportunities for AMEA Power, the project also supports the UAE’s economic diversification and export promotion strategy. renewable energy and innovative solutions, and help its people reduce their carbon footprint. This in turn will benefit the environment.”
Al Nowais said the project reflects the UAE’s interest in strengthening partnerships with African countries.
“The project is in line with the country’s strategic objectives to drive global economic development and sustainable development through the promotion of clean energy solutions,” he said, while he praised ADEX’s efforts to advocate for UAE goods and services globally and to increase the momentum for the UAE to strengthen own economies and efforts to diversify their economies.
Al Nowais also highlighted ADFD’s contribution to the solar project, which he said will have “a real impact on Togo’s development efforts”.
In 2021, the Abu Dhabi Development Fund financed the first phase of the Mohamed bin Zayed solar complex with AED55 million (US$15 million). The Mohammed bin Zayed Solar Energy Complex aims to reduce 9,500 tons of carbon dioxide emissions per year, accelerate the country’s transition to renewable energy, stimulate sustainable economic growth in Togo, and create hundreds of jobs for locals.
read: ADFD, ADEX sign two loan agreements worth AED337.9 million in Bahrain
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