The OPEC Fund for International Development (OFID) is an intergovernmental development finance institution established in 1976 by the member countries of the Organization of the Petroleum Exporting Countries (OPEC). Headquartered in Vienna, Austria, OFID's mandate is to foster economic growth and alleviate poverty in developing countries through the provision of financial assistance, primarily in the form of loans, grants, and technical assistance.

OFID's mission is guided by the principles of solidarity, equity, and partnership, and its core values include respect for diversity, transparency, and accountability. The organization operates in more than 130 countries, with a focus on Africa, Asia, Latin America, and the Caribbean. Since its inception, OFID has provided over $25 billion in development funding to support a wide range of projects in sectors such as health, education, agriculture, infrastructure, and energy.

In recent years, OFID has increasingly focused on supporting renewable energy projects, particularly in the wind and solar sectors. This reflects a growing recognition of the importance of sustainable energy sources in achieving the organization's development objectives, as well as the global imperative to address climate change.

One example of OFID's work in the renewable energy sector is its support for the development of wind power in Egypt. In 2017, OFID approved a $50 million loan to finance the construction of a 250 MW wind farm in the Gulf of Suez. The project, which is being developed by a consortium of international companies, is expected to generate enough electricity to power around 350,000 homes and reduce carbon emissions by around 550,000 tons per year.

OFID has also provided funding for solar energy projects in a number of countries, including Burkina Faso, Mali, and Niger. In 2018, the organization approved a $20 million loan to support the construction of a 30 MW solar power plant in Burkina Faso, which will increase the country's electricity generation capacity by around 5%.

In addition to providing financial support for renewable energy projects, OFID also plays an important role in promoting knowledge sharing and capacity building in this sector. The organization has established partnerships with a number of international organizations, including the International Renewable Energy Agency (IRENA) and the Renewable Energy and Energy Efficiency Partnership (REEEP), to support the development of renewable energy policies and projects in developing countries.

OFID's work in the renewable energy sector is driven by a commitment to sustainable development and the belief that access to clean, affordable energy is essential for achieving economic growth and reducing poverty in developing countries. By supporting the development of wind and solar power projects, OFID is helping to build a more sustainable and equitable future for people around the world.