Energy Economy

11 Nov 2022

IRENA’s Energy Transition Platform Bags $1b Investments

11 Nov 2022  by   
The Energy Transition Accelerator Financing Platform, managed by the International Renewable Energy Agency (IRENA), has secured a total of $1b in investment that will help scale up renewable project funding in developing countries by 2030.

In a statement, IRENA said the Asian Infrastructure Investment Bank pledged $300m as part of the cooperation agreement signed, whilst Masdar will contribute up to $200m. Swiss Re can help de-risk critical investments through insurance solutions and risk insights.

Founding partner and pioneer investor Abu Dhabi Fund for Development has committed $400m.

Meanwhile, the Inter-American Development Bank expressed interest to be a partner in the platform and co-finance of up to $100m of renewable energy and decarbonisation projects in Latin America and the Caribbean region.


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