India hosts first ISA conference

The International Solar Alliance (ISA), which brings together more than 120 partner nations to promote funding and development of solar energy projects, was formally launched by Prime Minister Narendra Modi and French President Emmanuel Macron in New Delhi in March 2018

October 2, 2018

The alliance aims to drive energy security and sustainable development in solar resource rich countries lying between the Tropics of Cancer and Capricorn through low-cost financing as well as the latest in technology

The alliance, with 121 prospective member countries, aims to mobilise investment of more than US$1 trillion from public and private enterprises to instal over 1,000 GW of solar generation capacity worldwide by 2030

Indian Government has committed over US$24.5 million for setting up of ISA and till date released a sum of over US$19 million for creating a corpus fund, building infrastructure and meeting day-to-day expenditure

India is also hosting the the second ministerial of Indian Ocean Rim Association (IORA) Renewable Energy Ministerial Meeting, and the second Global Renewable Energy Investment Meeting and Expo (REINVEST-2018)

India’s Ministry of New and Renewable Energy (MNRE) is organising the first assembly of International Solar Alliance (ISA) from October 2-5 in New Delhi. The founding conference of ISA, which brings more than 120 partner nations together to promote funding and development of solar energy projects, was jointly held by Prime Minister Narendra Modi and French President Emmanuel Macron in New Delhi in March 2018. The alliance aims to mobilise investment of more than US$1 trillion from public and private enterprises to install over 1,000 GW of solar generation capacity worldwide by 2030. Apart from the ISA member states, the event is being attended by UN Secretary General Antonio Guterres.

The alliance aims to drive energy security and sustainable development in solar resource rich countries lying between the Tropics of Cancer and Capricorn through low-cost financing as well as the latest in technology. Till date, out of 121 prospective member countries that lie between the Tropics, 68 countries have signed the ISA framework agreement. Out of 68 countries that have signed  agreement, 44 nations have deposited the instrument of ratification. As a founding member, Indian Government has committed over US$24.5 million for setting up of ISA and till date released a sum of over US$19 million for creating a corpus fund, building infrastructure and meeting day-to-day recurring expenditure.

Along with the first assembly of ISA, India is also hosting the the second ministerial of Indian Ocean Rim Association (IORA) Renewable Energy Ministerial Meeting, and the second Global Renewable Energy Investment Meeting and Expo (REINVEST-2018). IORA was set up to strengthen regional cooperation and sustainable development in the Indian Ocean region with 21 member states and seven dialogue partners. Meanwhile, RE-INVEST aims to drive global effort to scale up renewable energy and connect the global investment community with Indian energy stakeholders. The business and technical sessions of ISA Assembly, IORA Meet and RE-INVEST 2018 Expo will be held at India Expo Mart in Greater Noida.