The International Solar Alliance (ISA) is working for the deployment of over 1,000 GW of solar energy, and aims to mobilise more than USD 1,000 billion into solar energy by 2030, the Finance Ministry said on Saturday.
In this regard, the ISA, African Development Bank (AfDb), Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), Green Climate Fund (GCF), and New Development Bank (NDB) on Saturday signed a joint financial partnership declaration, here.
The International Energy Agency (IEA) also signed a joint partnership declaration with the ISA.
The agreements were signed in the presence of Union Finance Minister Arun Jaitley and Minister of State (I/C) for Power and New and Renewable Energy, R.K. Singh.
With objective to deepen cooperation in support of renewable energy, R.K. Singh said that ISA has the potential to have a huge impact on future of planet.
“Today we are in a happy situation where renewable energy has become viable. Solar energy is the future,” he added.
The previous three partnerships were signed by ISA with the World Bank, the European Investment Bank and the European Bank for Reconstruction and Development.
Further, the International Renewable Energy Agency (IRENA) will sign a joint partnership declaration.