ISA & EBRD sign Jt. Partnership Declaration to support Renewable Energy

Speed Post News Network

New Delhi : The International Solar Alliance (ISA) and European Bank for Reconstruction and Development (EBRD) signed here on November 2, 2017, the Joint Financial Partnership Declaration in the presence of  Union Finance and Corporate Affairs Minister Arun Jaitley with an objective to deepen the cooperation in support of Renewable Energy.
ISA and EBRD have joined hands for promotion of Solar Energy. From ISA’s side, Upendra Tripathy, the Interim Director General, ISA, and on behalf of EBRD Ms Nandita Parshad, Managing Director, EBRD, for Energy and Natural Resources, signed the declaration.
Speaking on the occasion, Jaitley said that India has been in the forefront of the 42 nation International Solar Alliance. He said that India under the leadership of PM Narendra Modi has pledged unequivocal commitment for furthering the cause of New and Renewable Energy since the Paris COP21 UN Climate Change Conference. Jaitley said that our energy requirements are huge and want to make optimal use of our New and Renewable Sources of energy.

The Finance Minister congratulated both ISA and EBRD for partnering with an objective to deepen cooperation in support of renewable energy. Jaitley said that ISA has taken a giant leap forward to mobilise international support for investment in Solar Sector. He added that ISA need to firm-up such financial partnership deals with more Multilateral and Bilateral Donor Agencies to meet its stated objectives of getting better Technology. He urged both the signing parties to go for innovation of New and Dynamic Mechanism for credit enhancement and risk mitigation in solar sector, according to a PIB release.

Tripathy, the Interim Director General ISA, informed that the ISA and EBRD have agreed to strengthen cooperation in pursuit of their shared goals of mobilising green energy financing. The collaboration will provide an opportunity to EBRD to support solar energy investment in the least developed countries especially in Africa.