The OPEC Fund for International Development (the OPEC Fund) today signed an agreement with the International Renewable Energy Agency (IRENA) to join the Energy Transition Accelerator Financing (ETAF) platform, a global initiative that seeks to mobilise funds for renewable energy investments. The OPEC Fund plans to support the platform with up to USD 250 million financing until 2030 to finance renewable energy solutions in its partner countries.
IRENA Director-General Francesco La Camera and OPEC Fund Director-General Abdulhamid Alkhalifa signed the agreement in Vienna during the OPEC Fund Development Forum. Director-General La Camera said: “Accelerating a renewables-based energy transition is imperative in the fight against climate change, as it enables us to simultaneously tackle pressing energy challenges and alleviate persistent social inequalities.
