1st International Solar Alliance Technology Summit

5 Indian Oil & Gas Public Sector Entities Pledge $5 Million As Corporate Partners Of ISA; Tripartite Agreement Between ISA, Indian RE Ministry & World Bank On One Sun, One World, One Grid
01:40 PM (Beijing Time) - 09. September 2020
1st International Solar Alliance Technology Summit

Key Takeaways

  • World Bank to fund OSOWOG under a tripartite agreement with the ISA and India’s MNRE
  • India’s NTPC to implement 47 solar energy projects in ISA member nations
  • 5 Indian oil and gas companies have become corporate partners to the ISA’s Coalition for Sustainable Climate Action
  • Agreements were signed with international institutes for promotion of solar pumps and solar in cooling industry

The International Solar Alliance (ISA) held its 1st ever World Solar Technology Summit (WSTS) on September 8, 2020 bringing together stakeholders from a number of countries, corporates and industries. Right before the conference, the ISA said it received 26,000 registrations for the event. Since it was held virtually, such a huge participation was possible and what’s more its virtual platform made the event all the more relevant since it ensured participants didn’t fly or travel using fossil fuel powered transport to reach the venue to talk about the importance of solar energy!

The main highlight of the event was the signing of a tripartite agreement between the ISA, the World Bank and the Indian Ministry of New and Renewable Energy (MNRE) to cooperate on One Sun, One World, One Grid (OSOWOG). Under the agreement, the World Bank will fund the initiative and explore transfer of clean solar power between various nations.

Back in May 2020, the MNRE had launched a request for proposal (RFP) round seeking a consultant to develop a roadmap and institutional framework to implement the OSOWOG in 3 phases, with the World Bank’s support with an aim to firm up the idea to create a grid to supply solar energy and other renewable energy generation across the Far East and Far West. The work will be done through a technical assistance program called Suprabha (see India’s MNRE Launches RFP For OSOWOG).

In a message to the summit, Indian Prime Minister Narendra Modi announced India will have 220 GW renewable energy capacity by 2022. “We have scaled our non-fossil fuel-based power generations to 134GW, which is about 35 % of our total power generation. We are confident of increasing it to 220 GW by 2022,” said Modi.

Another highlight of the ISA event were 3 partnership agreements it signed with:

  • France’s International Institute for Refrigeration to promote solar in cooling.
  • South Korea’s Global Green Growth Institute for the promotion of 1 million solar pumps in ISA member countries.
  • Indian electricity utility National Thermal Power Corporation (NTPC) for the implementation of 47 solar projects in ISA member countries.

NTPC has already bagged contracts to build solar power capacities in some ISA member nations as Togo and Mali (see NTPC Gets 500 MW Solar Park Project Contract In Mali).

There was also commitment from the Indian Ministry of Petroleum and Natural Gas to have 5 of its public sector undertakings (PSU) sign up as corporate partners for the ISA’s Coalition for Sustainable Climate Action (ISA-CSCA) and pledged $1 million each. Entities in this coalition are both corporate and public companies that work together towards universal energy access and meet climate targets. The 5 newer participants are Oil and Natural Gas Corporation Limited (ONGC), Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum and GAIL.

With $5 million from these 5, ISA will have a corpus fund of $17 million it said and added that 7 more partners will join in in October 2020.

The petroleum ministry said it will solarize 50% of the fuel stations owned by PSU companies in India over the next 5 years, after more than 5,000 fuel stations of Indian Oil were solarized last year.

 

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani