International Solar Alliance playing important role in energy transition in world, says Union Minister R K Singh

Union Minister for Power and New & Renewable Energy, R K Singh yesterday said that the International Solar Alliance (ISA) is playing an important role in the energy transition in the world.

 

Addressing the Curtain Raiser conference on the sixth session of the International Solar Alliance Assembly, the Union Minister said that the alliance is growing day by day and many countries are showing their interest to join the alliance.

 

The Sixth Session of the International Solar Alliance Assembly will be held from 30th October to 02 November in New Delhi.

 

Stressing on the effectiveness of ISA as an organization at the global level,  R. K. Singh  informed that the ISA has 124 signatories, out of which 94 have ratified and this is much bigger than other  energy organizations like IEA.

The Minister emphasized that the most important contribution of the ISA would be to ensure that investment goes to countries of the South.

The Minister said that there is almost complete unanimity across the world that energy transition has to be done and that emissions have to be reduced as soon as possible.

 

He added that the pace of emissions reduction is not as fast as it used to be and the time is running out as the global temperature has already risen by 1.01 degree Celsius.

 

Talking about the challenges in the energy transition, the Minister said that around 730 million people



around the world don't have access to electricity and ISA is working to help those people.

 

The Minister said that the rate of growth of the renewable energy capacity of India is the highest in the world. He said India is contributing 186 thousand megawatts of renewable energy in the total capacity of electricity generation. He added that 132 thousand megawatt capacity is under construction.

 

Mr Singh said that solar energy is the most reliable source among the other renewable energy sources. He added that the challenges will be the finance and the deployment of proper infrastructure.

Addressing the media, Director General of International Solar Alliance, Dr. Ajay Mathur said that the ISA is supporting the growth of 9.5 Giga Watt solar energy in projects across the world.

Speaking about investment in solar energy, Mr Mathur informed that solar power witnessed an investment of  310 billion dollars last year and that it is expected to be  380 billion dollars this year.

The Sixth Assembly of the ISA will deliberate on ISA initiatives that impact energy access, energy security and energy transitions, with a focus on Universalisation of energy access , mobilising Finance for accelerated solar deployment and diversifying supply chains and manufacturing for solar power. Delegates from 116 Member and Signatory Countries of the ISA will participate in the event.