Abu Dhabi Fund for Development has signed partnership agreements with four countries in the Pacific Islands for the implementation of renewable energy projects worth $50 million, a report said.

The solar technology projects will be in Marshall Islands, Nauru, Palau, Solomon Islands and are expected to be completed in 2016, bringing the total number of stations financed by the Partnership Fund to 10 stations, added the Akhbarak report.

"This initiative reflects the UAE's commitment to support the spread of clean technologies and renewable energy, which is an option competitive in terms of cost of electricity generation for the countries of the Pacific region, which is witnessing one of the highest electricity costs in the world,” Dr Sultan Ahmed Al Jaber, Minister of State and Chairman of the Board of Directors was quoted as saying in the report.

“We are confident that provide sustainable sources of energy, such as wind and solar energy, to ensure the Pacific region a practical solution contributes to the enhancement of energy security and support economic growth opportunities.”

It is expected that the four projects contribute to the provision of a million liters of diesel fuel per year, which will cut costs by $1.2 million, while also cutting 2,759 tonnes of carbon dioxide emissions per year.

The new projects will join six other projects financed by the Fund in the countries of the same region, which has been the completion of two of them, while the remaining four are still under development.

The four new projects include a solar power plant PV in Marshall Islands, and solar power plant PV in the Solomon Islands, and solar power plant PV in Nauru, in addition to the three projects in Palau, which include Koror and Peleliu and Angor Islands.