Fourth International Solar Alliance General Assembly                                                         

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Context: The fourth general assembly of The International Solar Alliance (ISA), is to be held virtually between October 18th and October 21st, 2021.

 

More about news:

• The Fourth Assembly of the ISA will deliberate on the key initiatives around the operationalisation of the OSOWOG initiative, the $1 trillion Solar Investment Roadmap for 2030, and approval of a Blended Financial Risk Mitigation Facility.
  • The idea for the One Sun One World One Grid (OSOWOG) initiative was put forth by Prime Minister of India, at the First Assembly of the International Solar Alliance (ISA) that called for connecting solar energy supply across borders.
  • This concept of a single global grid for solar energy envisions building and scaling inter-regional energy grids to share solar energy across the globe, leveraging the differences of time zones, seasons, resources, and prices between countries and regions.
  • OSOWOG will also help decarbonise energy production.
  • India’s Ministry of New and Renewable Energy, the World Bank and the ISA signing a tripartite agreement on OSOWOG
• World leaders of ISA member countries will also discuss the strategic plan of the ISA for the next five years encompassing a Country Partnership Framework, Strategy for Private Sector Engagement, and initiatives such as Viability Gap Financing scheme to facilitate affordable finance for solar energy projects across ISA’s membership.
• The ISA will also discuss the partnership with Global Energy Alliance (GEA) to scale up technical and financial support to LDCs and SIDS.

 

General Assembly of The International Solar Alliance

• The Assembly is the apex decision-making body of ISA, in which each member country is represented.
• This body makes decisions concerning the implementation of the ISA’s Framework Agreement and coordinated actions to be taken to achieve its objective.
• The Assembly meets annually at the Ministerial level at the seat of the ISA, assesses the aggregate effect of the programmes and other activities in terms of deployment of solar energy, performance, reliability, as well as cost and scale of finance.

ISA       The International Solar Alliance (ISA) is an alliance of 121 countries initiated by India, most of them being sunshine countries, which lie either completely or partly between the Tropic of Cancer and the Tropic of Capricorn.       The primary objective of the alliance is to work for efficient exploitation of solar energy to reduce dependence on fossil fuels.       The alliance is also called International Agency for Solar Policy and Application (IASPA).       This initiative was first proposed by Indian Prime Minister Narendra Modi.       The alliance is a treaty-based inter-governmental organization. Countries that do not fall within the Tropics can join the alliance and enjoy all benefits as other members, with the exception of voting rights. After the United Nations, it is the largest grouping of states world-wide.       It is headquartered in India.

 

https://www.pib.gov.in/PressReleasePage.aspx?PRID=1764673