Even the oily OPEC devil gets religion

From the newsletter

The OPEC Fund for International Development has approved a $15 million concessional loan for Chad’s Energy Sector Support Project. This investment is aimed at expanding access to clean, affordable power by financing solar mini-grids and rural electrification. It addresses Chad's severe energy poverty, where rural electricity coverage is below 2%.

• The fund builds on recent investments in renewables, including $47 million loan for the construction of a 372 MW power plant in the Ivory Coast and $40 million loan for a 1,000 MW solar power plant and 600 MWh battery storage system in Egypt.

• Renewables are drawing ever more interest from fossil fuel–linked funds. Among the examples are Masdar and Al Mansour Holdings from the Gulf.

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