sector has also registered a growth of 41% during the same
period. In addition to this, solar sector has a growth rate of
20% per annum during this period.
ISA is the first treaty –based International and
intergovernmental Organization to be based in
India. It is a unique organization, an alliance by
the developing countries to form a united front
to promote solar power and that with aggressive
targets. Considering the mammoth team work
required, how has the going been? What are the key
challenges?
ISA is the 1st treaty based international and intergovernmental
organization headquartered in India. ISA as an action
oriented organization is unique in the sense that its mandate
is actually on ground implementation of the solar projects
across ISA member countries. ISA is envisaged as an
aggregator platform bringing all the stakeholders together,
thereby making solar affordable by realizing economies of
scale. ISA plans to bring out a price discovery global tender
with the Member Countries who have participated in the
programme. Call for expression of interest has already been
issued requesting demand for solar water pump and street
lights from ISA member countries. Also, lack of trained
manpower and capacity is viewed as hindering factor.
ISA is gearing up for 2 major back to back large scale
events –The Founding Ceremony of ISA and the
Global RE-Invest India Partnership. What will be the
focus areas and what are your expectations from
these events?
Solar could shape India’s destiny and the country
targets 100 Gigawatts (revised to 175 GW) of
operating solar power capacity by March 2022.
To enable project developers to venture into new
markets where the cost of generation is still high,
is the ISA ready with financial solutions. Please
elaborate
As mentioned above, the Solar Industry has an annual
learning curve of 20-22 %. Also, solar tariffs have fallen
below the grid parity level in several countries. For example,
in Badla, India- the tariff been as low as Rs 2.44 per Kwh. It is
wrong to say that the generation cost is still high. This price
trend is a global phenomenon.
Also, ISA is neither a banker nor a financial institution in the
business of funding solar or solar related projects. However,
ISA has World Bank, European Investment Bank(EIB),
European Bank for Reconstruction and Development
(EBRD) as its financial partners, which do lend a substantial
part of their credit for solar energy projects. ISA has been
mandated to mobilize over 1000 billion dollar of investment
into solar sector by 2030. ISA is also working in the field of
Credit Risk reduction and enhancing marketability of RE
green Bonds. Further, ISA will sign joint declarations with
Asian Development Bank (ADB), African Development Bank
(AfDB), New Development Bank (NDB), Asian Infrastructure
Investment Bank (AIIB), and Green Climate Fund(GCF) on
11 March 2018. The focus of ISA is on capacity building
among countries to prepare bankable projects and bring
stakeholders together.
11th March 2018 is being celebrated as ISA Solar Summit and
Founding day. The occasion is likely to be graced by several
Heads of the States and Heads of the Governments of the
ISA member countries which have ratified or signed the ISA
Framework Agreement. The major outcome of the Summit
is going to be formally establishing the ISA with prior signing
of the Host Country Agreement. The depository i.e. the
Ministry of External Affairs, GoI shall bring out a notification
to this effect.
ISA is also partnering with Ministry of New and Renewable
Energy, GoI during the 2ND Global REINVEST slated to
happen between 19-21 April 2018. ISA also plans to hold the
1st session of General Assembly during this event. ISA plans
to sign at least 121 solar projects to be implemented across
ISA member countries by April 2018.
may 2018 Global MDA Journal
17