India’s Ministry of External Affairs has signed a Project Implementation Agreement with the International Solar Alliance (ISA), stated Randhir Jaiswal, MEA spokesperson.
This agreement aims to operationalize solar energy projects in Comoros, Fiji, Madagascar, and Seychelles.
New chapter in Quad Climate Initiatives.
A Project Implementation Agreement was signed between Ministry of External Affairs and International Solar Alliance to operationalise solar projects in Comoros, Fiji, Madagascar and Seychelles.
These projects underscore 🇮🇳’s Quad… pic.twitter.com/GrIScJxXTP
— Randhir Jaiswal (@MEAIndia) November 26, 2024
On X, Jaiswal stated, “These projects underscore India’s Quad commitment to renewables and just energy transitions in island nations of the Indo-Pacific.”
India is the current President of ISA, and this agreement reinforces India’s commitment to climate action and energy transitions in small island nations vulnerable to climate change.
About the International Solar Alliance (ISA)
The ISA, headquarteredin India, is a global initiative launched by India and France at the COP21 summit in Paris in 2015.
It aims to scale up solar energy deployment, enhance energy security, and facilitate the transition to cleaner energy systems.
Key initiatives of the ISA include:
1. SolarX Startup Challenge: Supporting innovative solar businesses in member countries.
2. STAR-C Initiative: Building solar technology skills in developing economies.
3. Global Solar Facility: Driving investments in underserved regions, particularly Africa.
4. Viability Gap Funding Scheme: Offering grants for solar projects in least developed countries and small island nations.
5. Green Hydrogen Innovation Centre: Exploring synergies between solar energy and hydrogen.
The ISA recently elected India as its President for the 2024–2026 term, with France securing the Co-Presidency. Vice Presidents from Africa, Asia-Pacific, Europe, and Latin America were also elected, ensuring balanced regional representation.
India’s commitment to Solar Energy
India has emerged as a global leader in renewable energy, with its installed solar capacity reaching approximately 90.76 GW as of September 2024. The country has set ambitious targets under its Panchamrit initiative, including achieving 500 GW of non-fossil energy capacity by 2030 and achieving net-zero emissions by 2070.
Key achievements in India’s solar sector include:
- A 30-fold increase in installed solar capacity over nine years.
- 46.3% of the total energy capacity coming from non-fossil sources.
- Policies promoting 100% foreign direct investment (FDI) in renewable energy projects.
The ISA’s ‘Towards 1000’ strategy aims to mobilize $1 trillion in solar investments by 2030, enabling the installation of 1,000 GW of solar energy capacity and providing energy access to 1 billion people. This effort is projected to mitigate 1,000 million tonnes of CO2 annually, significantly contributing to global climate goals.
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