The International Solar Alliance’s (ISA) first chief Upendra Tripathy says that the global body will become a huge organisation one day and attract a lot of talent to India. He also explains how it will help in increasing global solar footprints.
ISA will become a legal entity on December 6. What does this mean for India?
It’s very special as it’s the first inter-governmental global organisation to be permanently headquartered in India. Having 121countries as its prospective members, the ISA will become a huge organisation one day. Being permanently located here, it will attract a lotof talent toIndia. The world has, in fact, been looking at India for its new role. The ISA will drive a lot of R&D activities exclusively on solar — from electricity generation to storage capacity. Once we achieve creating cost-effective storage capacity (batteries), solar power will play a significant rolein driving us towards universal energy access.
ISA aims to mobilise more than $1 trillion in investments by 2030 for massive deployment of solar energy. How would it do that?
We are not a bank. So, we can’t lend money. But we can always facilitate and create an ecosystem so that the money flows in. We have financial partners in World Bank, European Investment Bank, Inter-American Development Bank and others. We are planning partnership with Asian Development Bank and African Development Bank as well. The idea is to persuade them to earmark at least 10% of their credit to solar power.
How will the ISA celebrate its historic day?