The International Renewable Energy Agency (IRENA) has entered into a new partnership with Etihad Credit Insurance (ECI), the UAE’s federal export credit company, to strengthen financing opportunities for renewable energy projects around the world. The collaboration is expected to improve access to investment for clean energy initiatives by combining financing support with innovative risk mitigation solutions.
As part of the agreement, ECI will contribute a range of credit insurance and risk management services that complement IRENA’s Energy Transition Accelerator Financing (ETAF) platform. These solutions are designed to reduce investment risks, particularly in emerging markets where financing challenges often slow the development of renewable energy projects.
ECI’s extensive international presence covers 110 countries, with a strong focus on regions including Africa, Central Asia, the Middle East, the Gulf Cooperation Council (GCC) countries, South and Southeast Asia, as well as nations that have signed Comprehensive Economic Partnership Agreements (CEPAs) with the UAE.
This broad geographic reach is expected to expand the impact of ETAF and support a greater number of clean energy projects across diverse markets.Commenting on the partnership, IRENA Director-General Francesco La Camera noted that while renewable energy investment continues to grow globally, many developing economies still struggle to attract sufficient financing because of perceived investment risks.
He explained that ECI’s participation in the ETAF platform will help address these concerns by providing targeted risk mitigation tools that can improve investor confidence and encourage greater capital flows into renewable energy projects.ECI Chief Executive Officer H.E. Raja Al Mazrouei highlighted that financing and risk-related barriers remain among the biggest obstacles to scaling renewable energy investments, particularly in emerging and fast-growing economies.
She stated that through the partnership, ECI will provide comprehensive credit insurance and risk mitigation support to projects backed by ETAF, helping improve their bankability and attractiveness to investors. According to her, the collaboration reflects ECI’s broader commitment to climate action, sustainable economic development, international cooperation, and the UAE’s Net Zero 2050 ambitions, while also contributing to the achievement of the United Nations Sustainable Development Goals.
Launched in 2021, the ETAF platform was created to accelerate the development and financing of renewable energy projects by bringing together project facilitation services, financing matchmaking opportunities, and access to de-risking solutions. The platform is designed to help viable projects move from the planning stage to financial close while supporting national energy transition strategies, climate commitments, and sustainable development objectives.
Through this new collaboration, IRENA and ECI will combine their project origination channels, industry expertise, and networks of financial and development partners within the ETAF framework. By integrating these resources on a single platform, the partnership aims to improve the chances of renewable energy projects securing financing and progressing to construction, particularly in regions where access to capital remains limited.
With ECI joining the initiative, the number of ETAF partners has now increased to 15. The platform’s partners have collectively pledged USD 4.15 billion in support, reinforcing ETAF’s position as one of the most inclusive financing and risk-mitigation platforms dedicated to advancing the global transition to renewable energy. The latest partnership further strengthens ETAF’s ability to mobilise investment, reduce financing barriers, and accelerate the deployment of clean energy projects worldwide.
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