The International Solar Alliance (ISA) and the Ministry of External Affairs (MEA), signed the Host Country Agreement at New Delhi on Monday. The Agreement will give ISA a juridical personality and gives it power to contract, acquire and dispose off movable and immovable properties, institute and defend legal proceedings. Under the agreement, ISA will enjoy such privileges, applicable tax concessions and immunities as are necessary for ISA’s Headquarters to independently discharge its function and programmes. ISA will derive its status, privileges and immunities as per Article 10 of Framework Agreement.
PHOTO: (L-R) Minister of State (I/C) for Power and New and Renewable Energy, RK Singh; Minister of State for External Affairs, General (Retd) VK Singh; Interim DG of International Solar Alliance (ISA), Upendra Tripathy at the signing ceremony of the Host Country Agreement between MEA and ISA, in New Delhi .
The agreement was signed by General (Retd) VK Singh, Minister of State, Ministry of External Affairs and Upendra Tripathy, Interim director general, ISA in the presence of RK Singh, Union Minister of State (IC) Power and New & Renewable Energy.
“ISA has potential to change developmental paradigm in the world. Energy will now be available to less developed tropical countries at affordable rates and in an easily deployable manner,” RK Singh said. The MNRE minister also mentioned that many countries have shown interest to learn from India’s experience in renewable energy. He emphasised the need for Indian industry to go and set up infrastructure in these countries, and talked about doing necessary de-risking in this regard.
VK Singh stated that ISA has an “onerous” task at hand to mobilise over $ 1000 billion of investment into the solar sector and deploying over 1000 GW of solar capacity. He added that ISA need to firm up financial partnership deals with more multilateral and bilateral donor agencies in order to meet its stated objectives.
Tripathy called the signing of Host Country Agreement an “important milestone” and thanked the Government of India for its “wholehearted” support.
ISA is an initiative jointly launched by the Prime Minister of India and President of France on November 30, 2015 at Paris, in the presence of the Secretary General of the UN, on the sidelines of COP21 UN Climate Change Conference. The main objective of ISA is to undertake joint efforts required to reduce the cost of finance and the cost of technology, mobilise more than $ 1000 billion of investments needed by 2030 for massive deployment of solar energy, and pave the way for future technologies adapted to the needs of 121 countries lying fully or partially between the tropics.
ISA has presently four ongoing programmes: Scaling Solar Applications for Agricultural Use, Affordable Finance at Scale, Scaling Solar Mini Grids and Scaling Solar Rooftop catering to the needs of solar energy in specific areas.
The Framework Agreement coming into force on December 6 2017, the ISA became the first international intergovernmental treaty-based organisation to be headquartered in India. ISA celebrated its founding day on March 11, this year.