Climate Investment Funds and International Solar Alliance Unveil Partnership to Drive Global Solar Investment
The Climate Investment Funds (CIF) and International Solar Alliance (ISA) have formed a strategic partnership to promote solar energy deployment across 121 developing countries. Announced today at ISA’s Second Assembly, the new alliance will harness the comparative advantages of each organization—one of the world’s largest multilateral climate finance mechanisms and a premier global solar energy platform—to help mobilize additional financing for critical solar initiatives within ISA member countries.
“Partnerships are the bedrock of climate action,” said Mafalda Duarte, head of the Climate Investment Funds. “By adjoining the expertise and resources of two institutions bound by common purpose, this new agreement will accelerate momentum toward a low-carbon economy that benefits all. This is a milestone in our shared efforts to help overcome the climate crisis and meet the SDGs through innovative financing to significantly scale up solar power.”
As agreed in a memorandum of understanding, CIF and ISA have pledged to jointly address financial and policy constraints in renewable energy development across ISA countries while creating more opportunities for knowledge sharing.
As part of their efforts to enhance understanding of critical finance issues, today CIF and ISA also released a report analyzing the state of the solar energy market in ISA countries, as well as existing and future opportunities for continued sector growth. ISA member countries are home to 135 GW of solar capacity and hold immense potential for further renewables development.