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ISA, IEA ink joint declarations of partnership for renewable energy

Press Trust of India  |  New Delhi 

The (ISA) has signed a joint partnership agreement with the International Agency (IEA) to deepen cooperation in the field of renewable

The ISA has also inked joint financial partnership declarations with the (AfDb), the (ADB), the Asian Infrastructure Investment Bank (AIIB), the Green climate fund (GCF), and the (NDB).

"The objective of the agreements is to deepen their cooperation in support of renewable The previous three partnerships were signed by ISA with the World Bank, the and the European Bank for Reconstruction and Development," an official statement said.

The agreements were signed in the presence of and Power and New and Minister R K Singh.

The statement said the International Agency (IRENA) will sign a joint partnership declaration tomorrow.

The ISA is working for deployment of over 1,000 GW of and mobilising more than USD 1 trillion into by the year 2030.

Singh said the ISA today had 60 signatories and 30 parties already had ratified solar alliance.

Together with the ISA, AfDb would work on mobilisation of concessional financing through existing, notably the Bank's Sustainable Energy for Energy Inclusion.

ISA and ADB have joined hands for promotion of in and the Pacific, including solar power generation, solar based mini-grids, and dedicated for integrating solar energy into the grids and any other future programs launched by ISA, the statement said.

and ISA have collaborated for promotion of solar energy in prospective ISA member countries where operates.

Besides, ISA and GCF will promote development of affordable, reliable and as an important way towards a sustainable and inclusive economic growth.

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

First Published: Sat, March 10 2018. 14:00 IST