ISA conference in India concludes with notes on development and opportunities in Solar energy

Minister for Energy, Water Resources and Irrigation Deepak Khadka has said that his visit to India was successful for the development of Nepal’s energy sector.     

Minister Khadka, who returned home on November 06 after participating in the International Solar Alliance Conference held in New Delhi, India, told a press conference held at Tribhuvan International Airport that during the conference, ISA pledged to support for the development of Nepal’s solar energy.     

During his visit to India, Minister Khadka had separate meetings with India’s Jal Shakti Minister CR Patil, President of the International Solar Alliance (ISA) and India’s New and Renewable Energy Minister Prahlad Venkatesh Joshi and Power Minister Manohar Lal Khattar.

He mentioned that there was a positive discussion with India regarding the quick progress of Pancheshwar, Arun and other mega projects. 

He said that the Nepal government has discussed with the large business community and organizations of India on how to meet the target of producing 28500 megawatts of electricity by 2035.     

He said that there is need for more investment in the hydropower sector and creating a favourable environment. If there is favourable working environment, multiple Indian companies are excited to work on Nepal’s hydropower development.

Minister Khadka was accompanied by senior energy expert Prabal Adhikari, Director General at the Electricity Development Department Navin Raj Singh and Minister Khadka’s financial advisor Amit Shrestha.

The ISA event, which is a Solar energy professionals’ jamboree witnessed significant reports focusing on global solar growth, investment trends, and technological advancements were unveiled. The World Solar Market Report highlighted a remarkable increase in global solar capacity, which surged from 1.22 gigawatts (GW) in 2000 to an impressive 1,418.97 GW in 2023. The report predicts that global solar capacity may reach a staggering 7,203 GW by 2030, with solar jobs expected to rise to 7.1 million.

The World Investment Report underscored a notable shift toward sustainable energy investments, increasing from $2.4 trillion in 2018 to an anticipated $3.1 trillion by 2024. Solar energy leads this investment trend, accounting for 59% of total renewable energy investments, driven by decreasing costs and a growing appetite for clean energy solutions.

Meanwhile, the World Technology Report showcased remarkable advancements in solar technology, including a record 24.9% efficiency in solar photovoltaic (PV) modules and significant reductions in silicon usage and utility-scale solar costs. These innovations are crucial for creating resilient and cost-effective energy solutions.

The ISA assembly serves as a vital decision-making body representing each member country. It convenes annually at the ministerial level, emphasizing the importance of collaborative governance in promoting solar energy deployment. This year’s discussions focused on critical issues such as energy access, energy security, and energy transition, aimed at addressing global energy challenges.

As the ISA continues to refine its governance structures, the Assembly, alongside the Standing Committee and Regional Committees, plays a crucial role in fostering cooperation among member nations. These engagements not only enhance collaboration but also pave the way for innovative partnerships that will drive the ISA’s objectives forward.

Speaking at the inaugural ceremony, Minister for New and Renewable Energy, India Pralhad Joshi who is also president of the ISA assembly, said “Today, we find ourselves at a key turning point in our mission to reshape the global energy future. Solar energy, once just a vision, is now a powerful reality, leading the world toward a cleaner and more sustainable path. The progress we’ve made together is undeniable, and the true potential of solar energy is unfolding, showing us just how transformative it can be.” He further added, “As a coalition of 120 Member and Signatory countries, ISA has been at the forefront of mobilising resources and facilitating the deployment of solar projects worldwide, particularly in Least Developed Countries (LDCs) and Small Island Developing States (SIDS). He noted that ISA has successfully completed 21 out of 27 demonstration projects, showcasing our collective ability to make significant strides in solar energy deployment and support sustainable development across the globe. These successful projects are a testament to our shared commitment and dedication.

The International Solar Alliance is an international organisation with 120 Member and Signatory countries. It works with governments to improve energy access and security worldwide and promote solar power as a sustainable 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, 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 advocacy for solar-powered solutions, ISA aims to transform lives, bring clean, reliable, and affordable energy to communities worldwide, fuel sustainable growth, and improve quality of life.

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).