India urged the United States to join the International Solar Alliance (ISA), co-founded by India and France. The ISA has become an important public policy tool for India and is seen as a counterpoint to China’s ambitious “One Belt One Road” initiative. India’s strategy is to deny the growing influence of strategic rival China in the region.
India’s ambitious One Sun One World One Grid (OSOWOG) global network, a $ 1 trillion solar investment roadmap for 2030 and a blended financial risk mitigation mechanism are also expected to be discussed during the meeting to be held virtually from October 18 to October 21.
ISA is the nodal agency responsible for implementing India’s global power grid plan, OSOWOG, which aims to transfer solar energy produced in one region to meet the electricity demand of others.
US Special Presidential Envoy for Climate John Kerry will deliver the keynote address on October 20, while European Commission Executive Vice President for the European Green Deal Frans Timmermans will address also at the meeting on October 20, “the ISA said in a statement on October 20. Saturday.
“The Fourth General Assembly of the International Solar Alliance (ISA) will be held virtually between October 18-21, 2021 and will be chaired by the Honorable Minister Shri RK Singh, Minister of Energy, New and Renewable Energy, Government Indian and ISA Assembly Chairman, “the statement added.
A consortium led by the French public electricity company EDF and comprising AETS in France and the Indian Institute of Energy and Resources (Teri) was tasked with creating the roadmap for the OSOWOG global network.
“A detailed report on OSOWOG should be discussed in the Assembly. The concept of a single global grid for solar energy was first presented at the first ISA assembly at the end of 2018. It envisions the construction and scale-up of interregional energy grids to share solar energy around the world, taking advantage of differences in time zones, seasons and resources. , and prices between countries and regions. OSOWOG will also help decarbonise energy production, which is today the largest source of global greenhouse gas emissions, ”the statement said.
ISA, co-founded by India at the 2015 climate change conference in Paris, has taken center stage for India’s attempts to play a global leadership role on climate. In what could bolster India’s benchmarks for climate engagement ahead of COP-26 in Glasgow, its emissions have been reduced by 28% from 2005 levels, against the target of 35. % by 2030.
“We are working to mobilize $ 1 trillion in investments for a massive deployment of solar energy technologies and for the expansion of solar markets,” Ajay Mathur, director general of ISA, said in the statement.
This comes at a time when there hasn’t been much traction on the Green Climate Fund set up to provide developing countries with $ 100 billion a year by 2020 to tackle climate change. Green finance is one of the priority themes of COP-26, the conference being held in the context of the reintegration of the United States into the Paris climate agreement.
“On October 18, UK Secretary of State for Business, Energy and Industrial Strategy Rt Hon Kwasi Kwarteng and World Bank Vice President for Infrastructure Riccardo Puliti will deliver probably an address on the One Sun, One World, One Grid (OSOWOG), which was announced by the Honorable Prime Minister Modi in 2018, “the ISA statement read.
According to the Union government, India is the only major economy with online actions to keep global warming below 2 ° C below pre-industrial levels and the only G20 country whose energy transition is in line with this goal. India has also resisted pressure to declare a goal of net zero emissions. Instead, India called out nations on their announcements of carbon neutral intent and called it “meaningless.”
“Global leaders from ISA member countries will also discuss ISA’s strategic plan for the next five years encompassing a national partnership framework, a private sector engagement strategy and initiatives such as the ISA funding program. the sustainability gap to facilitate affordable financing for solar energy projects through ISA membership. The ISA will also discuss partnering with the Global Energy Alliance (GEA) to scale up technical and financial support to LDCs and SIDS, ”the statement said.
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