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The United Arab Emirates Ministry of Foreign Affairs and International Cooperation announced in January of 2017 the UAE-Caribbean Renewable Energy Fund — a $50 million program that supports the development of renewable energy in 16 Caribbean countries. It is modeled on another $50 million investment vehicle created in 2013 known as the UAE-Pacific Partnership Fund.
To date, the UAE-PPF has supported the installation of 2.8 megawatts of renewable energy and eliminated the consumption of more than 3 million liters of diesel fuel. That, in turn, has saved the nations involved nearly $4 million a year in fuel costs and kept roughly 8,500 tons of carbon dioxide out of the air over the island nations.
Source: Clean Technica
