The International Renewable Energy Agency (IRENA) has signed a partnership agreement with Etihad Credit Insurance (ECI) to support the development and financing of renewable energy projects through the Energy Transition Accelerator Financing (ETAF) platform.
Under the agreement, ECI will provide credit insurance and risk mitigation solutions to ETAF-supported projects. These services address investment risks that can limit access to financing in emerging and developing markets.
The ETAF platform, established in 2021, supports renewable energy projects through project facilitation, financing matchmaking, and risk mitigation mechanisms.
It aims to help projects progress from early-stage development to financial closure while aligning with national energy transition strategies and international climate commitments.
ECI operates in 110 countries, with activities across Africa, Central Asia, the Middle East and GCC region, South and Southeast Asia, and Comprehensive Economic Partnership Agreement (CEPA) partner countries. Its participation in the ETAF platform is expected to expand the availability of risk mitigation instruments for renewable energy projects.
Francesco La Camera, Director-General of IRENA, said that, “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 catalyze greater investment in the energy transition.”
Raja Al Mazrouei Chief Executive Officer ECI
“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. 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.”
Through the agreement, IRENA and ECI will coordinate on project origination and partner engagement within the ETAF platform to support the development of renewable energy projects and their progression toward financing and implementation stages.
With ECI joining the initiative, ETAF now includes 15 partner organizations and has secured pledges totaling $4.15 billion, according to IRENA.
