International Solar Alliance signs pacts with global financial institutions

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International Solar Alliance signs pacts with global financial institutions

March 12, 2018 Anand Gupta

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New Delhi: The International Solar Alliance (ISA) on Saturday signed agreements with global financial institutions, including development banks.

“The International Solar Alliance and the African Development Bank, the Asian Development Bank, the Asian Infrastructure Investment Bank, the Green climate fund, and the New Development Bank signed joint financial partnership declarations,” an official statement from the Ministry of Finance said here.

The ISA also signed a joint partnership declaration with the International Energy Agency in presence of Finance Minister Arun Jaitley, it added.

The statement further said: “The objective of the agreements is to deepen their cooperation in support of renewable energy. The International Renewable Energy Agency will sign a Joint Partnership Declaration on March 11, 2018.”

The solar alliance is working for deployment of over 1,000 GW of solar energy and would mobilise more than $1,000 billion into solar energy by 2030, according to the statement.