ADFD lends $6mn to Maldives WTE project
Abu Dhabi fund helps bankroll 4MW waste to energy project.
Abu Dhabi Fund for Development (ADFD) has agreed to lend AED22mn ($6mn) towards a waste to energy project in the Maldives.
The project will supply 4MW of electricity, or around 18% of demand in in the northern city of Addu, the second largest city in the Indian island nation after the capital Male.
It will help save about 1.9 million litres of diesel, while reducing 10% of the city's total waste. The scope of work involves civil, electrical and mechanical works to operate the plant.
The agreement was signed by His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, and His Excellency Abdulla Jihad, the Minister of finance and treasury, Republic of Maldives.