Home / Industry / Energy /  India fastest in energy transition among major economies: RK Singh

Union minister for new and renewable energy R.K. Singh has said that India has been fastest in terms of energy transition among major economies in the world.

The minister on Thursday, unveiled the curtain raiser to the fifth assembly of the International Solar Alliance (ISA) to be held in New Delhi from 17-20 October, 2022.

“Among all the major economies, out pace of energy transmission is the fastest," Singh said, who also holds the portfolio of power ministry.

Noting that International Solar Alliance is essential for the goal of energy transition, the minister said that solar being the cheapest source of energy, solar and mini grids are the answer to the universal access of energy in the world.

India holds the office of the president of the ISA assembly. Ministers, missions and delegates from 109 member and signatory countries are set to participate in this meeting. The assembly will be presided over by R.K. Singh.

The assembly is the apex decision-making body of ISA, in which each member country is represented. This body makes decisions concerning the implementation of the ISA’s Framework Agreement and coordinated actions to be taken to achieve its objective. The assembly meets annually at the ministerial level at the ISA’s seat. It assesses the aggregate effect of the programmes and other activities in terms of deployment of solar energy, performance, reliability, cost and scale of finance, said a statement from the ministry of new and renewable energy.

The fifth assembly of the ISA will deliberate on the key initiatives of ISA on three critical issues of energy access, energy security, and energy transition. Leaders from ISA member countries will also discuss capacity building support to all developing member countries, and analytics and advocacy support to all member countries.

The assembly is expected to lead to a greater consensus among countries for promotion of solar power, the statement said, adding that increased international cooperation will be the backbone of energy transition, propelling investment and creating millions of new green jobs in this crucial decade of climate action.

The ISA Secretariat has planned a series of technical sessions on various strategic initiatives of the ISA on October 19, 2022, and technical sessions on various emergent issues in the solar and clean energy sector in collaboration with partner organizations.

The assembly of ISA comes at a significant time when global supply chain for solar modules and equipment is facing challenges.

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Recommended For You

Trending Stocks

Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout