Latest news with #InternationalSolarAlliance
Time of India
5 days ago
- Business
- Time of India
Sri Lanka inks solar partnership with ISA; regional push for SIDS platform, decentralised solutions
New Delhi: The International Solar Alliance (ISA) and the Government of Sri Lanka signed a Country Partnership Framework (CPF) to accelerate solar deployment, financing and institutional capacity-building in the country, as part of the Seventh Regional Committee Meeting for Asia and the Pacific. The CPF was exchanged in the presence of Sri Lanka's Prime Minister Dr Harini Amarasuriya, between Minister of Energy Kumara Jayakody and ISA Director General Ashish Khanna. The Colombo meeting also saw CPF exchanges with Fiji, Kiribati and the Solomon Islands. In addition, a Pledge of Support for the ISA Small Island Developing States (SIDS) Platform was adopted by participating island countries, reaffirming collective action on decentralised solar and storage-based energy solutions. 'Sri Lanka supports ISA's four strategic pillars and is working to establish a STAR Centre in Colombo as a regional hub for solar training and research ,' Prime Minister Amarasuriya said in her address. She called for deeper regional collaboration and a focused approach for SIDS and lower-middle-income countries. 'These countries face high costs, limited land, and grid constraints—but also immense potential in decentralised solar and storage-based solutions,' she said. Energy Minister Kumara Jayakody said, 'Our national goal is to achieve 70 per cent renewable energy in electricity generation by 2030 and reach carbon neutrality by 2050. Solar energy is central to this vision. The Platform will help Small Island Developing States benefit from economies of scale, reduced transaction costs through competitive bidding, and enhanced knowledge exchange.' ISA Director General Ashish Khanna said the Asia-Pacific region plays a key role in shaping the global solar energy landscape. 'ISA's approach in the region is anchored in four key pillars: mobilising catalytic finance, strengthening institutional capacities, fostering regional platforms, and enabling innovation and technology deployment. We are committed to working in close partnership with each Member State,' he said. India's High Commissioner to Sri Lanka, Santosh Jha, said, 'India's energy transition journey—marked by achieving 50 per cent installed electricity capacity from non-fossil sources five years ahead of schedule—demonstrates what collective ambition and decisive action can achieve. Through ISA, we have the opportunity to light up not just homes, but futures.' The ISA SIDS Platform, jointly developed with the World Bank, aims to accelerate inclusive, climate-resilient energy access across island nations. An MoU was also signed between ISA and the International Centre for Integrated Mountain Development (ICIMOD) to advance solar cooperation in mountainous regions. The meeting featured sessions on digital energy solutions, cross-border renewables trade and startup innovation under the SolarX APAC pitch competition. The two-day meeting, hosted in Colombo, continues on July 17 with discussions on operationalising the SIDS Platform and scaling technology-driven interventions.
The Print
6 days ago
- Business
- The Print
India's solar ambition needs financial vision – ISA must move from commitments to execution
India's experience illustrates this well. Despite policy successes in solar deployment, the government's ability to directly invest in grid infrastructure or generation assets is capped by fiscal deficit targets and debt ceilings. Even green bonds, while helpful, are bound by ring-fenced rules and are limited in scale. Public financing, therefore, can only act as a catalytic lever—it cannot be the backbone. The potential of solar energy is undeniable. It is modular, scalable, and increasingly cost-effective. Yet, for the nations most abundant in sunlight, finance remains a key constraint. The International Energy Agency estimates that clean energy investments in emerging economies must rise from $770 billion in 2022 to over $2.2 trillion annually by 2030. A significant portion of this must be allocated to solar energy. However, the fiscal realities of many countries—either still recovering from the Covid-19 pandemic, burdened by debt, or struggling to cope with pressing social needs—limit the ability of governments to invest at scale. As the world confronts the realities of climate change and energy insecurity, solar energy presents itself not merely as a technological solution but as a transformative geopolitical and developmental strategy. The International Solar Alliance is uniquely positioned to catalyse this transformation. But to succeed, it must go beyond declarations. It must now design and implement financial architectures capable of supporting its ambitions. Turning to the private sector, we find both potential and limitations. Many solar developers operate on highly leveraged balance sheets, and with rising global interest rates, the space for fresh capital is narrowing. Moreover, risks such as currency volatility, regulatory uncertainty, and weak transmission infrastructure dampen investor appetite, especially in frontier markets. Private capital is crucial but requires structured entry points, credible exit mechanisms, and active risk mitigation to be effective. Making solar power viable One promising solution lies in Infrastructure Investment Trusts (InvITs). These allow mature infrastructure assets—such as operational solar plants or transmission lines—to be monetised and sold to institutional investors, freeing up capital for developers to reinvest in new projects. India has already demonstrated the utility of InvITs in sectors such as roads and power transmission. Extending this to the solar power arena could unlock significant value. The ISA should take the lead in crafting a common InvIT framework tailored for solar infrastructure. A pooled anchor investment fund, supported by multilateral finance institutions, could reduce risks and attract scale investors across member countries. Equally vital is grid infrastructure—the invisible scaffolding that makes solar power viable. The sun may shine everywhere, but power must travel, be stored, and be balanced in real-time. India's Green Energy Corridor and the Revamped Distribution Sector Scheme offer early models. Yet, many ISA member states lack integrated plans for transmission, storage, and cross-border trading. And then there is global capital. Today's capital markets are flush with liquidity, seeking long-duration, climate-aligned assets. But this window may not last. As rates rise and climate risks mount, capital will flow only to those who present credible regulatory frameworks, transparent asset registries, and scalable instruments. The ISA should champion a Global Solar Asset Registry for standardised project information. It must also establish a Solar Credit Guarantee mechanism to mitigate political and currency risks. And it must establish a blended finance facility to crowd in private investment using concessional capital. Also read: Why surge pricing can spark a brighter future for solar power New strategies are key The rise of India's solar power capacity—from under 3 GW in 2014 to 100 GW today—demonstrates what the right mix of policy, institutional coherence, and financial innovation can achieve. However, to transition to 500 GW by 2030, new strategies are essential, including rooftop and distribution company (DISCOM)- level solar investments, urban InvITs, and the integration of solar energy into agriculture through active implementation of schemes such as the PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan). These experiences must be adapted and scaled across ISA countries. ISA's evolving strategy must rest on three core principles. First is to scale with purpose. Solar expansion must reduce energy poverty and build domestic value chains. The second is to finance with innovation. ISA must mobilise capital markets and create new instruments, such as InvITs. The third is to lead with solidarity. Emerging economies must shape the agenda with shared standards and cooperative execution. The sun unites us—geographically, climatically, symbolically. However, to truly harness its power, we must act together, think boldly, and manage our finances wisely. The International Solar Alliance must now transform from a coalition of commitments into a platform of execution. It is time to light not only the grids but also the lives of those still waiting for their first connection. The author is a former finance secretary to the Government of India and chairman, Institute of Development Studies Jaipur. Views are personal. (Edited by Zoya Bhatti)
Time of India
08-07-2025
- Business
- Time of India
International Solar Alliance to hold Regional Committee Meeting in Colombo next week
Solar sector experts and stakeholders will gather next week at a multilateral meeting for Asia and the Pacific region in Sri Lanka to discuss ways to scale up use of solar energy . The International Solar Alliance (ISA) will host its Seventh Regional Committee Meeting (RCM) for the Asia and the Pacific Region next week in Sri Lanka, an official statement said on Tuesday. The event will bring together government officials, technical universities, think tanks, institutional partners, and leaders from the private sector to advance a coordinated and strategic agenda for scaling solar deployment across this dynamic and diverse region, the Ministry of New and Renewable Energy (MNRE) said. Ashish Khanna, Director General, ISA, said "The Regional Committee Meeting in Colombo from 15-17 July is an opportunity to develop practical, investment-ready solutions with the potential to scale across countries and technologies." Headquartered in India, the ISA is a global initiative launched in 2015 by India and France at UN's climate conference COP21 in Paris. It has 123 member and signatory countries. The Alliance works with governments to improve energy access and security worldwide and promote solar power as a sustainable transition to a carbon-neutral future.
Time of India
08-07-2025
- Business
- Time of India
International Solar Alliance to hold Regional Committee Meeting in Colombo next week
A key meeting on solar energy is set for Sri Lanka. The International Solar Alliance hosts its regional committee meet. Discussions will focus on boosting solar power use in Asia-Pacific. Government officials and experts will attend. They will explore investment-ready solutions. The goal is to promote sustainable energy and a carbon-neutral future. The event starts on July 15. Tired of too many ads? Remove Ads Solar sector experts and stakeholders will gather next week at a multilateral meeting for Asia and the Pacific region in Sri Lanka to discuss ways to scale up use of solar energy The International Solar Alliance (ISA) will host its Seventh Regional Committee Meeting (RCM) for the Asia and the Pacific Region next week in Sri Lanka, an official statement said on event will bring together government officials, technical universities, think tanks, institutional partners, and leaders from the private sector to advance a coordinated and strategic agenda for scaling solar deployment across this dynamic and diverse region, the Ministry of New and Renewable Energy (MNRE) Khanna, Director General, ISA, said "The Regional Committee Meeting in Colombo from 15-17 July is an opportunity to develop practical, investment-ready solutions with the potential to scale across countries and technologies."Headquartered in India, the ISA is a global initiative launched in 2015 by India and France at UN's climate conference COP21 in Paris. It has 123 member and signatory Alliance works with governments to improve energy access and security worldwide and promote solar power as a sustainable transition to a carbon-neutral future.
Time of India
08-07-2025
- Business
- Time of India
ISA's 7th Regional Committee Meeting for APAC to be held in Colombo during July 15-17
The International Solar Alliance (ISA) will host the Seventh Regional Committee Meeting (RCM) for the Asia and the Pacific Region from 15–17 July 2025 in Colombo, Sri Lanka. This gathering will bring together government officials, technical universities, think tanks, institutional partners, and leaders from the private sector to advance an agenda for scaling solar deployment across this region. With the theme 'Advancing Solar Cooperation Across a Region of Diversity and Opportunity', the meeting aims to serve as a confluence of strategic dialogue, knowledge exchange, and action-oriented outcomes to strengthen the APAC region's leadership in the global solar transition. Ashish Khanna , Director General, ISA, said in a statement, 'The Asia and the Pacific Region is at the heart of the global energy transition. The Regional Committee Meeting in Colombo is an opportunity to develop practical, investment-ready solutions with the potential to scale across countries and technologies. Whether it is developing regional aggregated solar energy platforms for SIDS, enabling regional interconnections between countries, scaling up Asian institutions for integration of solar and digital innovation, or supporting the growth of new technologies like Green Hydrogen and storage, this meeting will help chart a path towards a solar-powered future, grounded in partnerships and local leadership.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas in Dubai | Search Ads Get Info Undo The RCM chaired by the Vice President from the region, the Socialist Republic of Sri Lanka, aims to serve as a platform to align regional solar priorities with ISA's evolving strategic vision, anchored in its four foundational pillars: Catalytic Finance Hub: Expanding catalytic and blended finance initiatives to de-risk solar investments, with a view to scaling similar facilities across Asia and the Pacific, building on ISA's experiences in Africa. Global Capability Centre and Digitisation: Progressing ISA's vision of the 'Silicon Valley for Solar' through a hub-and-spoke model that connects STAR Centres, fosters innovation via the SolarX Startup Challenge, and provides tailored technical assistance across Member Countries. Regional and Country-Level Platforms: Expanding initiatives like the SIDS platform for e-tendering and e-procurement to aggregate regional demand and open wider market access. Technology Roadmap and Policy Innovation: The Regional Committee Meeting will support ISA Member Countries in adopting advanced solar technologies, diversifying supply chains, and integrating emerging solutions like Green Hydrogen and energy storage. These efforts build on the ISA–ADB joint project on Ecosystem Readiness for Green Hydrogen, which was prominently showcased at the Asia Clean Energy Forum (ACEF) 2025 held in Manila, Philippines. During ACEF, ISA released key reports under this project, including the Framework for Green Hydrogen Hubs, country-specific readiness assessments, and strategic roadmaps for Energy Storage Systems and Long Duration Energy Storage (LDES). These resources will directly inform the technology pathways and policy discussions at the APAC RCM, enabling countries to fast-track deployment and scale solutions across the region. Live Events This Regional Committee Meeting will mark a significant step in strengthening ISA's regional engagement, paving the way for impactful programmes, resilient partnerships, and long-term strategies aligned with ISA's Framework Agreement and the broader global climate agenda.
