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Pact on Collaboration in Energy Sector Sustainability And Resilience renewed by IEA and ADB

Pact on Collaboration in Energy Sector Sustainability And Resilience renewed by IEA and ADB

A Memorandum of Understanding between the Asian Development Bank (ADB) and the International Energy Agency (IEA) has been renewed by the parties to enhance collaboration and boost progress on sustainability with an increased emphasis on the resilience of the energy sector in Asia and Pacific.

Key Points:

  • Under the agreement signed for a term of three years, best practices and knowledge will be shared between the two organisations in energy sector data and analysis, capacity building, on-the-ground engagement, and innovation and technology among other areas of cooperation.
  • The pact will help in overcoming major challenges on knowledge and experience that are obstructing the development of sustainable energy systems in the member countries of ADB and improve the data collection and capacity building efforts of IEA in Asia and the Pacific.
  • The MoU was first signed by the Asian Development Bank in March 2017 to allow the advancement of analytical and knowledge-based work for the development of clean energy.
  • Under the initiative, the bank has collaborated with IEA to study the flexibility of power systems in India and to determine how more winds and solar energy systems can be integrated into the grids.
  • The renewal agreement was signed on 9 July 2020 at the Clean Energy Transitions Summit of IEA.

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