India, France re-elected as President, Co-President of ISA

India and France have been re-elected as President and Co-President of the International Solar Alliance (ISA) at the fifth general assembly of the body

Alt=
India, France re-elected as President, Co-President of ISA

New Delhi: India and France have been re-elected as President and Co-President of the International Solar Alliance (ISA) at the fifth general assembly of the body. Union Power and New & Renewable Energy Minister RK Singh will be the President of ISA, while Chrysoula Zacharopoulou, France’s Minister of State for Development, Francophonie and International Partnerships, will be co-president of the International Solar Alliance, ISA Director General Ajay Mathur told reporters on Tuesday.

Mathur said that there was only application for the post of President and Co-President from India and France, respectively.

ISA will talk about clean energy access at COP-27: Singh

Interacting with the press, Singh mentioned that the ISA has really grown fast and now it has 110 countries onboard. “We have to bring electricity to 700 million people in the world who are without access (to power) through clean sources,” said Singh.

On being asked about the issues that the ISA will take up at the COP-27, Singh said that the ISA will talk about furthering the cause of energy transition. “We shall be urging all countries, especially developed countries, to contribute towards energy transition, access and to make sure that energy access is clean and green,” said Singh.

He added that the ISA Assembly has approved the Solar Facility, a payment guarantee mechanism which is expected to stimulate investments into solar projects through two financial components: Solar Payment Guarantee Fund and Solar Insurance Fund.

“Most experts agree that distributed generation, primarily powered by solar photovoltaic systems, is the most cost-effective and fastest solution. Solar has enabled us to set up mini grids in remote areas, be it himalayas or deserts,” said the ISA president.

World facing energy crisis due to Ukraine war: France

Zacharopoulou said, “We are facing an energy crisis due to the Ukraine war. We are the most affected. Our objective is to accelerate deployment of renewable energy.”

She also said that this is not energy imperative, but (ISA or RE) is required for our (member nations) energy independence. “In response to the global energy market transition, the EU has already taken decisive steps and the renewable energies are the basis of our response,” she said.

ISA to soon operationalise Solar Facility

The International Solar Alliance works with governments to improve energy access and security worldwide and promote solar power as a sustainable way to transition to a carbon-neutral future.

ISA’s mission is to unlock USD 1 trillion of investments in solar by 2030 while reducing the cost of the technology and its financing. It promotes the use of solar energy in the Agriculture, Health, Transport and Power Generation sectors.

The ISA will soon operationalise Solar Facility to crowdsource investments from various donors across the globe and proposed projects in Africa will be able to purchase payment guarantees or partial insurance premium from these funds.

RK Singh inaugurates 5th Assembly of ISA

The ISA Assembly also approved the SolarX Grand Challenge, which is planned to focus on innovation and start-ups, particularly decentralized solar energy applications that contribute to livelihoods, such as agriculture, health, and small-scale industrial applications.

This will foster a three-fold benefit promotion of the solar energy sector, thinning of the gap of the energy crisis, and promoting a solar start-up ecosystem.

The Assembly is the apex decision-making body of ISA, in which each Member Country is represented. This body makes decisions concerning the implementation of the ISA’s Framework Agreement and coordinated actions to be taken to achieve its objective.

(PSU Watch– India’s Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, Join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)