The International Renewable Energy Agency (IRENA) and the European Bank for Reconstruction and Development have partnered on an initiative to scale up renewable power in EBRD countries.
IRENA stated that the partners agreed to cooperate more closely on developing and delivering technical assistance to support the growth of renewable energy, and develop a pipeline of bankable renewable energy projects that can be financed by the EBRD and others.
“We come together with our partners to harness our strengths and put them to work to deliver investments. It is this kind of action that we expect will make a difference,” said Nandita Parshad, EBRD managing director for sustainable infrastructure, who signed the deal for the bank during the 10th IRENA Assembly in Masdar City, Abu Dhabi.
EBRD has signed €30 billion ($33 billion) in green investments and financed more than 1,600 green projects to date. Last year, the bank financed more than 1.5 gigawatts of new renew