1. Home
  2. Infrastructure Energy
  3. POWER & RENEWABLE ENERGY
  4. ISA Launches New Solar Initiatives at 7th Assembly Session
ISA Launches New Solar Initiatives at 7th Assembly Session
POWER & RENEWABLE ENERGY

ISA Launches New Solar Initiatives at 7th Assembly Session

07 Nov 2024 2 Min Read CW Team
The International Solar Alliance (ISA) began its seventh Assembly session in New Delhi, with delegates from 29 countries in attendance. Union Minister for New and Renewable Energy, Pralhad Joshi, serving as Assembly President, emphasized ISA’s significant progress in advancing solar energy, particularly in Least Developed Countries (LDCs) and Small Island Developing States (SIDS). He noted that 21 out of ISA’s 27 solar demonstration projects showcasing scalable solutions have been completed.

ISA also launched a new Solar Data Portal, offering real-time insights into solar resources, project performance, and investment opportunities across member nations. Additionally, the Global Solar Facility was introduced, designed to direct commercial capital to underserved regions, especially in Africa. A pilot project, backed by a $39 million fund from India, ISA, Bloomberg, and the Children’s Investment Fund Foundation, will commence in the Democratic Republic of Congo by COP29.

France’s Minister of State for Development, Thani Mohamed Soilihi, virtually reaffirmed France’s commitment of €1.5 billion to ISA initiatives, focusing on financing access and capacity-building under ISA’s STAR-C program. ISA Director General Dr. Ajay Mathur stressed the Assembly’s goal of fostering innovative solar solutions and enhancing global partnerships.

The session also reviewed guidelines for ISA’s Viability Gap Funding (VGF) scheme, which offers grants covering up to 35% of eligible solar projects in LDCs and SIDS. Elections for ISA’s President and Co-President for the 2024-2026 term, as well as the announcement of a new Director General, set to take office in March 2025, are also on the agenda.

The Assembly will conclude on November 6 with a high-level conference on clean technologies and a visit to a Delhi farm demonstrating agrivoltaic systems.

The International Solar Alliance (ISA) began its seventh Assembly session in New Delhi, with delegates from 29 countries in attendance. Union Minister for New and Renewable Energy, Pralhad Joshi, serving as Assembly President, emphasized ISA’s significant progress in advancing solar energy, particularly in Least Developed Countries (LDCs) and Small Island Developing States (SIDS). He noted that 21 out of ISA’s 27 solar demonstration projects showcasing scalable solutions have been completed. ISA also launched a new Solar Data Portal, offering real-time insights into solar resources, project performance, and investment opportunities across member nations. Additionally, the Global Solar Facility was introduced, designed to direct commercial capital to underserved regions, especially in Africa. A pilot project, backed by a $39 million fund from India, ISA, Bloomberg, and the Children’s Investment Fund Foundation, will commence in the Democratic Republic of Congo by COP29. France’s Minister of State for Development, Thani Mohamed Soilihi, virtually reaffirmed France’s commitment of €1.5 billion to ISA initiatives, focusing on financing access and capacity-building under ISA’s STAR-C program. ISA Director General Dr. Ajay Mathur stressed the Assembly’s goal of fostering innovative solar solutions and enhancing global partnerships. The session also reviewed guidelines for ISA’s Viability Gap Funding (VGF) scheme, which offers grants covering up to 35% of eligible solar projects in LDCs and SIDS. Elections for ISA’s President and Co-President for the 2024-2026 term, as well as the announcement of a new Director General, set to take office in March 2025, are also on the agenda. The Assembly will conclude on November 6 with a high-level conference on clean technologies and a visit to a Delhi farm demonstrating agrivoltaic systems.

Next Story
Resources
23 Jan 2025

Master Builders Solutions Forges Path into India Market with MBT-Construction Chemicals

Master Builders Solutions, a global leader in innovative concrete admixtures and solutions for the construction industry, announces its strategic expansion into the dynamic Indian market. Leveraging its expertise and advanced solutions, Master Builders Solutions aims to address the growing demand for sustainable, high-performance construction materials across various sectors in India. The move into India represents a significant milestone for Master Builders Solutions, aligning with its commitment to delivering cutting-edge solutions worldwide. With a rapidly evolving construction landscape in..

Read More
Next Story
Resources
23 Jan 2025

TrucksUp collaborates with AU Small Finance Bank to empower aspiring buyers and small fleet owners

TrucksUp has announced a strategic partnership with AU Small Finance Bank Ltd to offer economic, easy and hassle-free financing solutions for used trucks focusing on driver and transport business community. This partnership tactically aims to support small fleet owners in India by providing low EMI loans at competitive interest rates. Their target audience can also benefit from refinancing options on existing trucks and avail of top-up loans to meet their financial needs. This is making the access to capital needs for truck drivers’ community easy to grow and scale their business. This colla..

Read More
Next Story
Resources
23 Jan 2025

Build Capital to Invest Rs 1.5 billion in Navi Mumbai’s RE Market in 2025

Build Capital, an innovative early-stage real estate fund, has completed its maiden investment in the Navi Mumbai market. This investment in Satyam Group’s project is part of Build’s strategy to become a preferred partner in early – stage real estate financing in Mumbai Metropolitan Region (MMR).Build Capital has further announced that it plans to invest close to Rs 1.5 billion (bn) in the Navi Mumbai market out of its total target investments of Rs. 4 bn for the year 2025. Kuldeep Jain, CEO and Co-Founder, Build Capital said, “We are plugging the existing gaps of early-stage financing..

Read More

Opinion Poll

Question : Which technological advancement do you believe will most transform the real estate industry in the coming years?

Latest updates

Tata Projects Sees Order Intake Doubling To Over Rs 200 Bn In FY25
ECONOMY & POLICY
23 Jan 2025

Tata Projects Sees Order Intake Doubling To Over Rs 200 Bn In FY25

Blue Energy Motors Signs Rs 35 Bn Mou with Maharashtra
POWER & RENEWABLE ENERGY
23 Jan 2025

Blue Energy Motors Signs Rs 35 Bn Mou with Maharashtra

Global Solar Sector Funding Falls 24% to $26.3 Billion: Report
POWER & RENEWABLE ENERGY
23 Jan 2025

Global Solar Sector Funding Falls 24% to $26.3 Billion: Report

Avaada Group Receives Financial Commitments worth For 9 Projects
ECONOMY & POLICY
23 Jan 2025

Avaada Group Receives Financial Commitments worth For 9 Projects

Hyundai Localises Over 1.2k Parts & EV Battery Packs
ECONOMY & POLICY
23 Jan 2025

Hyundai Localises Over 1.2k Parts & EV Battery Packs

Tata Elxsi Joins Hands with Minespider for Battery Platform
POWER & RENEWABLE ENERGY
23 Jan 2025

Tata Elxsi Joins Hands with Minespider for Battery Platform

HMDA Plans to Raise Rs 200 Bn For Infrastructure Projects In Hyderabad
ECONOMY & POLICY
23 Jan 2025

HMDA Plans to Raise Rs 200 Bn For Infrastructure Projects In Hyderabad

Maharashtra Government to Revise Ready Reckoner Rates in Next Fiscal
Real Estate
23 Jan 2025

Maharashtra Government to Revise Ready Reckoner Rates in Next Fiscal

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000