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ADB, ISA Commit to Promote Solar Energy in Asia and Pacific Region

Capital Market 

(ADB) and the (ISA) signed a cooperation arrangement today to promote solar deployment in and the Pacific, including generation, solar based mini-grids, and for integrating solar into grids.

ADB's policy commits $3 billion per year by 2020 for promoting clean energy, including projects in its developing member countries, said Mr. We are happy to work with ISA to mobilize additional investments to meet ISA's goals for the massive deployment of affordable

Both parties agreed to cooperate on knowledge sharing and developing for the promotion of solar energy, develop financing instruments to support deployment, and conduct studies and consultations to explore mobilization of concessional financing through trust funds or special funds administered by ADB.

ISA, headquartered in near New Delhi, is now a treaty-based intergovernmental organization that was established following the Paris Declaration as an alliance dedicated to the promotion of solar energy among its member countries.

The ISA's major objectives include global deployment of over 1,000 gigawatt (GW) of solar generation capacity and mobilization of investment of over $1 trillion into solar energy by 2030.

has set an ambitious target of installing 175 GW of renewable energy, including 100 GW from solar by 2020 as announced by India's at the joint launch of the ISA with then-French on 30 November 2015.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 12 2018. 14:02 IST
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