Friday, August 12, 2022

It’s official! ISA is nodal agency for implementing India’s global electricity grid plan

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  • The announcement is significant because India has long been championing the idea of a global electricity grid

  • Another crucial partnership agreement was signed by the ISA with NTPC which will help the power PSU in securing solar power projects in 47 member countries

New Delhi: The International Solar Agency (ISA) has signed a number of partnership agreements at the first World Solar Technology Summit on Tuesday. However, the most important of them all has been the one that has give ISA the nodal agency mandate for implementing India’ global electricity grid plan. The other partnership agreements were signed by ISA with International Institute for Refrigeration, Paris, Global Green Growth Institute (Republic of Korea) and NTPC Limited. On the occasion, India also announced $1.4 billion worth of lines of credit for 27 solar projects across 15 countries in 2018 that are under implementation.

Why does ISA’s nodal agency status for global electricity grid matter?

According to the partnership agreement signed between the ISA, the Ministry of New and Renewable Energy (MNRE) and the World Bank, the ISA will manage the bid process management and the global electricity grid implementation plan. The announcement is significant because India has long been championing the idea of a global electricity grid. The ISA being made the nodal agency for the plan is also important because India has been trying to leverage the platform and its ‘One Sun One World One Grid’ (OSOWOG) plan to counter China’s One Belt One Road initiative. The OSOWOG is also vital to India’s plan of becoming an electricity importer.

In his message to the Summit (which was read out by Union Power Minister RK Singh), Prime Minister Narendra Modi said, “The ISA is a part of “One Sun One World One Grid" project. I firmly believe that this project can bring transformational benefits for the entire humanity.” 

ISA to provide technical assistance in deploying 1 million solar irrigation pumps

Another important agreement inked during the summit was between ISA and Seoul-based Global Green Growth Institute (GGGI). Under the agreement, ISA will provide technical assistance in deploying one million solar irrigation pumps. The assistance will first be extended to African countries like, Uganda, Burkina Faso, Ethiopia, Senegal, Mozambique, Fiji, Vanuatu, Tonga and Kiribati, and will be later rolled over to other ISA member nations.

Also read: ISA to hold first World Solar Technology Summit on virtual platform on Sep 8

NTPC to be part of One Sun One World One Grid

Addressing the event, Power Minister RK Singh said, “NTPC, the power major of India, is at your service to fuflfil the vision of the Hon’ble Prime Minister of India — One Sun One World One Grid through worldwide implementation of solarisation initiatives.” The partnership agreement signed by the ISA with NTPC will help the power PSU in securing solar power projects in 47 of the least developed and small island developing member countries.

Commenting on the signing of the agreement, NTPC Chairman Gurdeep Singh said, “NTPC has been one of the first corporate partners of ISA and this partnership further evolved with endorsement of NTPC as project management consultant by ISA through a competitive process.”

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)

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