Speaking at the inauguration of the Sixth Assembly of the International Solar Alliance (ISA), Union Power and New & Renewable Energy Minister RK Singh emphasized the remarkable potential of renewable energy sources. He stated that renewable energy has the capacity to provide 65 percent of the world’s total electricity by 2030 and can lead to the decarbonization of 90 percent of the power sector by 2050.
Currently, approximately 80 percent of the global population resides in countries reliant on fossil fuel imports, encompassing around 6 billion people.
As the President of ISA, Mr. Singh pointed out that the recent G20 Summit in New Delhi highlighted the urgent necessity for transitioning to clean energy.
Mr. Singh extended an invitation to all member countries, ISA Partner Organizations, and other participating organizations to collaborate with ISA, facilitating its role as a catalyst for transformative change.
“Our vision when the ISA was established was to create a sustainable world through the adoption of solar energy solutions,” he expressed.
He emphasized the goal of tripling global renewable energy capacity by 2030, aligning with established targets and policies of countries and broadening aspirations to encompass zero and low emission technologies. This involves adopting additional blended finance mechanisms and risk-sharing facilities in the renewable energy sector.
Mr. Singh encouraged approaching the Assembly Session with a sense of duty, purpose, and optimism, expressing confidence in the collective capacity to address the climate change challenges.
Chrysoula Zacharopoulou, the Co-President of the Assembly and France’s Minister of State for Development, Francophonie, and International Partnerships, praised the International Solar Alliance as a crucial initiative against climate change. She acknowledged ISA’s substantial global impact and its efficient execution of programs to enhance the worldwide solar energy landscape.
Ajay Mathur, Director General of ISA, noted the commendable 12 percent annual growth rate in clean energy investment since 2020, largely driven by solar and wind power projects. However, he highlighted that the majority of this investment is concentrated in a limited number of countries, leaving many developing economies, especially in Africa, underserved.
The inaugural ceremony of the Sixth ISA Assembly brought together ministers from 20 countries, delegates representing 116 Member and Signatory countries, and participants from 18 prospective countries.
