Solar energy Current Affairs

International Solar Alliance becomes Treaty-based International Intergovernmental organization

The International Solar Alliance (ISA) became treaty-based international intergovernmental organization on 6th December 2017 one month after Guinea became 15th country to ratify it.

ISA is first treaty-based international government organisation to be based in India. So far, 46 countries have signed and 19 ratified Framework Agreement of ISA

International Solar Alliance (ISA)

The ISA is brainchild of India, jointly launched by Prime Minister Narendra Modi and French President Francois Hollande in November 2015 in Paris on sidelines of COP-21 of UN Climate Conference. Its secretariat is located in campus of National Institute of Solar Energy (NISE), Gwalpahari, Gurgaon, Haryana.

It aims at addressing obstacles to deployment at scale of solar energy through better harmonization and aggregation of demand from solar rich countries by bringing standardization in solar technologies and fostering research and development.

Under this alliance, 121 countries that fall within tropics i.e. between Tropic of Cancer and Tropic of Capricorn have been invited to make collaborative efforts to harness solar energy to generate the electricity. Most of these countries fall within Asia, Africa and South America.

The institutional structure of ISA consists of an Assembly, a Council and a Secretariat. Its members will take coordinated actions through programmes and activities that will aggregate demands for solar finance, solar technologies, innovation, R&D and capacity building.

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Government inks Loan Agreement with World Bank for Shared Infrastructure for Solar Parks Project

The Union Government has signed a guarantee agreement for IBRD/CTF loan of US $98 million and Grant Agreement for US $2 million for Shared Infrastructure for Solar Parks Project with World Bank.

The objective Shared Infrastructure for Solar Parks Project is to increase solar generation capacity through establishment of large-scale parks in the country.

Shared Infrastructure for Solar Parks Project

The project consists of two components viz. (i) Shared Infrastructure for Solar Parks and (ii) Technical Assistance. It will help to establish large-scale solar parks and support government’s plan to install 100 Gigawatts (GW) of solar power out of total renewable-energy target of 175 GW by 2022.

World Bank

World Bank is one of five institutions created at Breton Woods Conference in 1944. It is part of the United Nations system, but its governance structure is different. Its headquarter are situated at Washington DC, US.

World Bank provides loans to developing countries for capital programmes. It comprises only two institutions viz. International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA). In contrast, World Bank Group comprises three more viz. International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), and International Centre for Settlement of Investment Disputes (ICSID).

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