CHAPTER 2
SDG 7 (Affordable and Clean Energy) has traditionally been a focus area of the OPEC Fund, as reliable and sustainable access to energy is a key enabler for development. Target 7.a is the main area supported by OPEC Fund projects analyzed in this edition of the report (Table 7) . One recently approved example is a US$50 million loan to Azerbaijan for the devel-
opment, construction and operation of two wind farms with an aggregate capacity of 240 MW. Increasing its renewable energy capacity will help Azerbaijan reduce greenhouse gas emissions and improve electricity security by diversi- fying power generation sources. This project contributes to various targets under SDG 7, namely 7.1, 7.2, 7.a and 7.b.
Table 7: Project contributions to SDG 7 targets
No. of contributing projects
% of contributing projects
SDG target
7.1 By 2030, ensure universal access to affordable, reliable and modern energy services
3
7
7.2 By 2030, increase substantially the share of renewable energy in the global energy mix
5
11
7.3 By 2030, double the global rate of improvement in energy efficiency
3
7
7.a By 2030, enhance international cooperation to facilitate access to clean energy research and technology, including renewable energy, energy efficiency and advanced and cleaner fossil-fuel technology, and promote investment in energy infrastructure and clean energy technology 8
18
7.b By 2030, expand infrastructure and upgrade technology for supplying modern and sustainable energy services for all in developing countries, in particular least developed countries, small island developing States and landlocked developing countries, in accordance with their respective programs of support
3
7
21
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