Mains Paper 2: IR | Important International institutions, agencies & fora, their structure, mandate
From UPSC perspective, the following things are important:
Prelims level: International Solar Alliance, IORA, RE-INVEST
Mains level: India’s initiatives for transition towards Renewable Energy
- The PM today inaugurated the first Assembly of the International Solar Alliance.
- The same event also marked the inauguration of the second IORA Renewable Energy Ministerial Meeting, and the 2nd Global RE-Invest (Renewable Energy Investors’ Meet and Expo).
Highlights of the ISA Assembly
- The target is to generate 40 percent of India’s total energy requirements in 2030, by non fossil fuel based sources.
- PM Modi emphasized that if the dream of “One World, One Sun and One Grid” is followed, uninterrupted power supply can be ensured.
- He announced plans to launch a National Energy Storage Mission that will look at manufacturing, deployment, technology development and policy framework.
- The first Assembly will lay the foundation for global Solar Agenda.
- The Assembly will adjudicate upon various administrative, financial and programme related issues.
- The Indian Ocean Rim Association was set up with the objective of strengthening regional cooperation and sustainable development within the Indian Ocean Region with 21 Member States and 7 Dialogue Partners.
- India is hosting 2nd IORA Renewable Energy Ministerial meet.
- In this meeting, Ministers from 9 member countries and delegates from all 21 member countries are expected to participate.
- India, Australia, Iran, Indonesia Thailand, Malaysia, South Africa, Mozambique, Kenya, Sri Lanka, Tanzania, Bangladesh, Singapore, Mauritius, Madagascar, UAE, Yemen, Seychelles, Somalia, Comoros and Oman are members of IORA.
- RE-Invest is a global platform to explore strategies for development and deployment of renewables.
- It showcases India’s green energy market and the Government’s efforts to scale up capacity to meet the national energy demand in socially, economically and ecologically sustainable ways.
- The 2nd RE-INVEST aims at accelerating the worldwide effort to scale up renewable energy and connect the global investment community with Indian energy stakeholders.
- The 2nd RE-INVEST will provide a great opportunity to various countries, states, business houses & organisations to showcase their business strategies, achievements and expectations.
- It would facilitate collaboration and cooperation with key stakeholders in India, which has today emerged as one of the world’s largest renewable energy markets.
RE Status of India
- Globally, India stands 5th in renewable power, 4th in wind power and 5th in solar power installed capacity.
- Renewable energy development and deployment has received proactive policy support, including 100% foreign investment.
- The Government of India is aiming to exceed the set target of 175 GW renewable energy capacity by 2022.