Abu Dhabi [UAE], June 6: The International Renewable Energy Agency (IRENA) signed a collaborative partnership agreement with Etihad Credit Insurance (ECI).
ECI is bringing a suite of innovative credit insurance and risk mitigation solutions that are highly complementary to ETAF, the Energy Transition Accelerator Financing platform.
ECI has a broad geographic footprint covering 110 countries, with particular focus on Africa, Central Asia, the Middle East and Gulf Cooperation Council (GCC), South and Southeast Asia, and the Comprehensive Economic Partnership Agreement (CEPA) partner countries.
Francesco La Camera, Director-General of IRENA, said, "IRENA works with its global Membership and funding partners to facilitate access to financing for renewable energy project. However, in many developing markets, perceived risks continue to constrain investment. ECI's participation in IRENA's ETAF Platform creates new opportunities to attract financing for projects through targeted risk mitigation solutions, helping to close this gap and catalyse greater investment in the energy transition."
Raja Al Mazrouei, Chief Executive Officer of ECI, said, "Our partnership with IRENA marks a significant step forward in accelerating the global transition to a sustainable, low-carbon future. At ECI, we believe that addressing financing and risk-related challenges is essential to scaling renewable energy investments, particularly in emerging and high-growth markets. By providing comprehensive credit insurance and risk mitigation solutions to ETAF-supported projects, we aim to enhance investor confidence, unlock greater capital flows, and improve the bankability of clean energy initiatives. This collaboration also reflects ECI's commitment to advancing climate action, supporting sustainable economic development, and strengthening international cooperation in line with the United Nations Sustainable Development Goals and the UAE's Net Zero 2050 ambitions."
Established in 2021, the ETAF Platform combines project facilitation, financing matchmaking, and access to risk-mitigation solutions to advance viable projects from pipeline to financing. It also aligns with country energy transition priorities, climate commitments, and sustainable development goals.
The partnership between IRENA and ECI will enable combining the institutions' project original channels and network of partners on a single platform - the ETAF - maximising chances for renewable energy projects across the globe to get to financing and construction.
ECI's joining brings ETAF's partner count to 15, with pledges totalling US$4.15 billion, highlighting its role as one of the most inclusive financing and de-risking platforms for a renewable-based energy transition.
Source: Emirates News Agency
