A multi-stakeholder climate finance solution
Energy Transition Accelerator Financing (ETAF) Platform is an inclusive, multi-stakeholder climate finance solution managed by the International Renewable Energy Agency to advance the energy transition across the Agency’s 166-strong membership.
With anchor funding of USD400 million from the United Arab Emirates via the Abu Dhabi Fund for Development (ADFD), the Platform serves as the first global climate finance partnership from the Middle East to the world. ETAF aims to mobilise approximately USD 1 billion of capital by 2030 from various funding partners, investors, private sector, and donors.
ETAF supports the implementation of ambitious National Determined Contributions (NDCs) to meet the Paris Agreement targets and the realisation of United Nations Sustainable Development Goals (SDGs), while serving important national objectives.
How ETAF works
ETAF offers a broad range of financial products and innovative financing solutions. Financial matchmaking of renewable energy projects will be subject to funding partners’ compliance procedures, due diligence, and in line with their credit financing or investment requirements. IRENA will offer technical assistance and project facilitation support.
Financing availability period
ETAF is an open-ended Platform with key milestones to be achieved by 2030. As such, ETAF targets the total deployment of 1.5 GW by that time. New funding partners will join via a master cooperation agreement as the Platform evolves.
Sourcing of Projects
IRENA will implement and maintain an open call for projects. Details of project registration, project submission, matchmaking and project eligibility documentation are always accessible. Projects submitted to the Platform should come from IRENA Member countries and be accounted for as part of their NDC targets. IRENA will channel and recommend a robust pipeline of renewable energy projects from around the world for funding consideration by ETAF partners.