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The Sixth Assembly of the International Solar Alliance (ISA), scheduled to be held in Delhi this month, will deliberate on critical issues such as mobilising finances for deployment of solar power and diversifying supply chains.
The meeting of the apex decision-making body of the ISA, which will be held from October 30 to November 2, will deliberate on initiatives that impact energy access, security, and transitions with focus on universalisation of energy access through solar mini-grids, mobilising finance for accelerated solar deployment and diversifying supply chains and manufacturing for solar.
“At the forthcoming 6th Assembly of ISA, world leaders will converge to expedite the widespread adoption of solar power. This year, in our capacity during the G20 Presidency, ISA has been advocating decentralised solutions, promoting green hydrogen, and diversification of supply chains,” Power and New & Renewable Energy Minister R K Singh said.
The impactful work of ISA is instrumental in driving positive shifts in critical social indicators such as employment, livelihoods, climate change mitigation, biodiversity preservation, forestry and gender equality, he added.
MNRE Secretary B S Bhalla said ISA’s objective is to facilitate energy transition at the global level, energy security at National level and energy excess at local level. India family believes that these objectives will ensure access to affordable reliable sustainable and modern energy for all.
Leaders from 116 countries will participate in the meet.
Raising capital
ISA Director General Ajay Mathur opined that solar energy will play a pivotal role in achieving the target of tripling of renewable capacity by 20230 that has been emphasised by the COP28 Presidency.
To accomplish this, a substantial increase in clean energy investment, tripling current levels by 2030, is imperative. Encouragingly, investment in clean energy has seen a commendable 12 per cent annual growth rate since 2020, driven largely by solar and wind power projects, he added.
“However, this surge in investment is primarily concentrated in a handful of countries, leaving many developing economies, particularly in Africa. Emerging economies receive only a fraction of the resources needed to sustainably meet their energy requirements,” Mathur pointed out.
He emphasised that by collaborating with international financial organizations, development institutions, and national governments investment and financial support can be enhanced. A more secure energy future hinges on astute investment decisions and robust leadership from both governments and businesses.
Other activities
The ISA Secretariat has planned a High-level Conference on New Technologies for Clean Energy Transition in collaboration with the Ministry of New & Renewable Energy (MNRE), Asian Development Bank, and the International Solar Energy Society on November 1, 2023. The conference will focus on various issues concerning climate change and solar energy deployment.
ISA will also be releasing its three flagship reports providing updates on solar technology, solar market and solar investments.
At present, the ISA has 109 countries as signatories to the Framework Agreement, of which 90 countries have submitted the necessary instruments of ratification to become full members. India holds the office of the president of the ISA Assembly, with France as co-president.
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