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European Investment Bank signs partnership pact with Solar Alliance

By Rahul Chopra
Image for representational purpose only
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The European Investment Bank today inked a partnership agreement with International Solar Alliance for an 800 million euro financial aid to support India’s clean energy project.
The partnership between the two bodies will mobilize finance to develop affordable solar energy in countries that get ample sunlight. According to PTI, EIB said in an investment that they also confirmed plans to provide a record EUR 800 million for renewable energy investment across India. 
The solar energy joint declaration was exchanged between Andrew McDowell, EIB Vice President and India government at the 14th India European Union summit in the presence of Prime Minister Narendra Modi, European Council President Donald Tusk and European Commission President Jean-Claude Juncker. In its cooperation with International Solar Alliance (ISA), EIB will mobilise financing for development and deployment of affordable solar energy in ISA member countries.
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