The Islamic Corp. for the Insurance of Investment and Export Credit signed the memorandum of understanding with the UAE government-owned renewable energy company on the sidelines of the Abu Dhabi Sustainability Week.
The two parties agreed to cooperate in promoting joint work in establishing, financing and implementing renewable energy projects through insurance support to the ICIEC in the member states.
The partnership is projected to lead to a current combined capacity of more than 23GW of renewable energy, with an expected reach of more than 50GW of total capacity by 2030.
Under the terms of the agreement, Masdar City Free Zone startups and SMEs can avail of the benefits of the Wio Business app.