International Solar Alliance (ISA) and Global Energy Alliance for People and Planet (GEAPP) sign agreement to boost solar deployment
Sharm El Sheikh : Today, at COP 27, the Global Energy Alliance for People and Planet (GEAPP) signed a grant agreement of USD 10 million with the International Solar Alliance (ISA) to boost the deployment of solar energy in developing countries. Under the agreement, ISA will strengthen its programmes, build capacities in the least developed countries (LDCs) and small island developing states (SIDs), and bolster its analytics & advocacy efforts.
Dr Ajay Mathur, Director General, International Solar Alliance said: “We have been engaging with the Global Energy Alliance for People and Planet since Glasgow COP 26, as part of our ongoing mission to solarise the world by 2030. Through this partnership, ISA will support its 110 member and signatory countries in developing a vibrant solar energy ecosystem and creating a viable and bankable solar energy project pipeline, building capacities, mitigating risks & creating innovative financing instruments, mobilising investments, and promoting technologies. In all of ISA’s activities, risk reduction is the unifying theme: whether it is for the reduction of risk to investors or reduction in policy risk due to new policies or to users due to vulnerabilities of international fuel prices and to climate impacts. Through initiatives progressing from this partnership, we hope to cut these risks and ease solar deployment globally.”
Simon Harford, CEO, GEAPP said: “Energy-poor countries represent about half of the global population. Yet only six percent of all solar PV and wind deployed in 2021 went to these countries. In fact, only one percent of all wind and solar capacity ever deployed has been installed in Africa. This is a trend GEAPP is determined to reverse. We are proud to work with partners such as the ISA to deliver clean energy solutions in cooperation with government, helping tackle climate change and powering more equitable economic growth and sustainable livelihoods.”
The broad avenues of collaboration will also include encouraging the exchange of information and best practices, quality assurance of solar products, steps to advance training to strengthen capacities in technological and financial, deployment of solar building awareness for solar energy, and further deploying innovative technologies.
The ISA-GEAPP partnership will create awareness to nudge an enabling policy and regulatory environment to support the shift to clean energy. This pro-growth model ensures universal energy access, unlocking a new era of inclusive economic growth while enabling the global community to meet critical climate goals during the next decade.
ABOUT THE INTERNATIONAL SOLAR ALLIANCE
The International Solar Alliance is an international organisation with 110 Member and Signatory countries. It works with governments to improve energy access and security worldwide and promote solar power as a sustainable way to transition to a carbon-neutral future. ISA’s mission is to unlock US$ 1 trillion of investments in solar by 2030 while reducing the cost of the technology and its financing. It promotes the use of solar energy in the Agriculture, Health, Transport and Power Generation sectors. ISA member countries are driving change by enacting policies and regulations, sharing best practices, agreeing on common standards, and mobilising investments. Through this work, ISA has identified and designed and tested new business models for solar projects; supported governments to make their energy legislation and policies solar-friendly through Ease of Doing Solar analytics and advisory; pooled demand for solar technology from different countries; and drove down costs; improved access to finance by reducing the risks and making the sector more attractive to private investment; increased access to solar training, data and insights for solar engineers and energy policymakers. With the signing and ratification of the ISA Framework Agreement by 15 countries on 6 December 2017, ISA became the first international intergovernmental organisation to be headquartered in India. ISA is partnering with multilateral development banks (MDBs), development financial institutions (DFIs), private and public sector organisations, civil society, and other international institutions to deploy cost-effective and transformational solutions through solar energy, especially in the least Developed Countries (LDCs) and the Small Island Developing States (SIDS).
About the Global Energy Alliance for People and Planet (GEAPP)
The Global Energy Alliance for People and Planet (GEAPP) is an alliance of philanthropy, entrepreneurs, governments in emerging and developed economies, and technology, policy, and financing partners. Our common mission is to support developing countries’ shift to a clean energy, pro-growth model that ensures universal energy access and unlocks a new era of inclusive economic growth, while enabling the global community to meet critical climate goals during the next decade. In doing so, as an Alliance we aim to enable 150 million sustainable livelihoods, reduce 4 gigatons of future carbon emissions, and expand clean energy access to one billion people. With philanthropic partners IKEA Foundation, The Rockefeller Foundation, Bezos Earth Fund, GEAPP works to build the enabling environment, capacity, and market conditions for private sector solutions, catalyze new business models through innovation and entrepreneurship, and deploy high-risk capital to encourage private sector solutions, and assist just transition solutions.