ISA And IEA Sign Joint Declarations Of Partnership For Solar Energy
The International Solar Alliance (ISA) and the African Development Bank (AfDb), the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), the Green climate fund (GCF), and the New Development Bank (NDB) signed Joint financial partnership Declarations. The International Energy Agency (IEA) also signed a Joint partnership Declaration with the ISA. The agreements were signed in the presence of Shri Arun Jaitley, Union Minister of Finance and Corporate Affairs and Shri R.K. Singh, Minister of State (I/C) for Power and New and Renewable Energy. The objective of the agreements is to deepen their cooperation in support of Renewable Energy. The previous three partnerships were signed by ISA with the World Bank, the European Investment Bank and the European Bank for Reconstruction and Development. The International Renewable Energy Agency (IRENA) will sign a Joint Partnership Declaration on 11th March 2018.
ISA is working for deployment of over 1000 GW of solar energy and mobilising more than US$ 1000 billion into solar energy by the year 2030.
On the occasion, the Union Minister of State for Ministry of New and Renewable Energy Shri R.K. Singh said that ISA has potential to have a huge impact on future of the planet. He added that today we are in a happy situation where renewable energy has become viable. He highlighted that solar energy was the future. The minister while highlighting that the effects of global warming were apparent with every successful year also informed that ISA today had 60 signatories and 30 parties already had ratified solar alliance.