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    Climate Investment Funds Signs MoU with IRENA to Accelerate Clean Energy Investment

    Nov. 1, 2021
    The organizations will share their expertise on energy transition
    Photo courtesy of Energy.gov
    10 29 Cif And Irena Article 4 002 61801e7a2e7fb

    Climate Investment Funds (CIF), a multilateral fund, signed a memorandum of understanding (MoU) with the International Renewable Energy Agency (IRENA) to accelerate investment in clean energy worldwide. The virtual signing ceremony took place just ahead of the Climate Conference CO26 and signals their commitment to the Paris Agreement and UN Sustainable Development Goals.

    Under the MoU, the organizations will share expertise on energy transition. IRENA and CIF will work with governments, the private sector, the civil society, local communities and major multilateral development banks on evidence-based investments and policymaking.

    “The energy transition has become a cornerstone of the global response to climate change,” said Francesco La Camera, IRENA’s Director-General, “while creating jobs, and unlocking economic growth and sustainable development. I am confident that this new partnership between IRENA and CIF will help accelerate investment and ensure that all countries and regions can realize the benefits of the global energy transition for a resilient and more equitable world.”

    The strong collaboration at the regional and country level aims to lower the barriers to launching new renewable technologies, increase technical support, bring in capital from the private sector for energy transition and open sustainable markets. 

    About the Author

    EnergyTech Staff

    Rod Walton is senior editor for EnergyTech.com. He has spent 14 years covering the energy industry as a newspaper and trade journalist.

    Walton formerly was energy writer and business editor at the Tulsa World. Later, he spent six years covering the electricity power sector for Pennwell and Clarion Events. He joined Endeavor and EnergyTech in November 2021.

    He can be reached at [email protected]. 

    EnergyTech is focused on the mission critical and large-scale energy users and their sustainability and resiliency goals. These include the commercial and industrial sectors, as well as the military, universities, data centers and microgrids.

    Many large-scale energy users such as Fortune 500 companies, and mission-critical users such as military bases, universities, healthcare facilities, public safety and data centers, shifting their energy priorities to reach net-zero carbon goals within the coming decades. These include plans for renewable energy power purchase agreements, but also on-site resiliency projects such as microgrids, combined heat and power, rooftop solar, energy storage, digitalization and building efficiency upgrades.