ISA to have huge impact on planet, says Minister Singh

The International Solar Alliance (ISA) has signed a joint financial partnership declaration for deployment of over 1,000 GW of solar energy and mobilising more than US$1 trillion investment by the year 2030.

It was signed on 10 Mar 2018 in New Delhi with the African Development Bank (AfDb), the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), the Green climate fund (GCF), and the New Development Bank (NDB).

The International Energy Agency (IEA) also signed a Joint partnership Declaration with the ISA.

The previous three partnerships were signed by ISA with the World Bank, the European Investment Bank and the European Bank for Reconstruction and Development.

The International Renewable Energy Agency (IRENA) will sign a Joint Partnership Declaration on 11 Mar 2018.

Speaking at the signing, Minister of State for Ministry of New and Renewable Energy R.K. Singh said that ISA has potential to have a huge impact on future of planet.

He added “today we are in a happy situation where renewable energy has become viable.”

Highlighting that solar energy was the future, Singh said the effects of global warming were apparent with every successful year.

He said the ISA had 60 signatories and 30 parties already had ratified solar alliance.

ISA and ADB have joined hands for promotion of Solar Energy in Asia and the Pacific, including solar power generation, solar based mini-grids, and transmission systems dedicated for integrating solar energy into the grids and any other future programs.

AIIB and ISA both have joined hands for promotion of Solar Energy in prospective ISA member countries where AIIB operates.

Both ISA and GCF promote the development of affordable, reliable and sustainable solar energy as an important way towards a sustainable and inclusive economic growth. fii-news.com