Development signed a Memorandum of Understanding (MoU) on 12 January allowing the two organisations to strengthen their relationship and accelerate efforts to rapidly increase the share of renewable power in EBRD countries of operation.


According to the EBRD, the partners agreed to cooperate more closely in delivering technical assistance and capacity building to create the enabling framework for rapid growth of renewable energy, and to develop a pipeline of bankable renewable energy projects for financing by private investors and the EBRD and other partners.

“EBRD and IRENA share a common objective to promote the use of renewable energy. With this MOU we formalise our already strong partnership leveraging our respective strengths to attract investments and accelerate the much-needed energy transformation in our countries of operation,” said EBRD Managing Director for Sustainable Infrastructure Nandita Parshad, who signed the MoU for the regional development bank.