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This story is from October 2, 2018

ISA could replace Opec as key global energy supplier in future: PM Modi

Prime Minister Narendra Modi on Tuesday said the International Solar Alliance (ISA) could replace Opec as the key global energy supplier in the future. "The role, which is being played by oil wells now, will be played by the rays of sun in the future," said PM Modi after inaugurating the first Assembly of the ISA.
ISA could replace Opec as key global energy supplier in future: PM Modi
Prime Minister Narendra Modi (PTI photo)
Key Highlights
  • PM Modi said the International Solar Alliance (ISA) could replace Organization of the Petroleum Exporting Countries (Opec) as the key global energy supplier in the future
  • "The role, which is being played by oil wells now, will be played by the rays of sun in the future," said Modi after inaugurating the first Assembly of the ISA
NEW DELHI: Pitching for clean sources of energy by reducing dependence on polluting fossil fuel, the Prime Minister Narendra Modi on Tuesday said the International Solar Alliance (group of solar resource rich nations) could replace the Organization of the Petroleum Exporting Countries (OPEC) as the key global energy supplier in the future.
“The ISA will have same role in future what is being currently played by the OPEC.
The role, which is being played by oil wells now, will be played by rays of sun in future,” said Modi after inaugurating first Assembly of the International Solar Alliance (ISA) - a brainchild of India which was jointly launched with France in Paris in November, 2015.
The OPEC is cartel of 15 nations which meets nearly half of the world’s oil needs. These nations currently work as a group to coordinate and unify the petroleum policies of its member countries to ensure better deal for them in the global oil market.
Incidentally, 10 of the 15 OPEC countries are already in the list of ISA potential members by virtue of being solar resource nations. It includes UAE, Saudi Arabia, Venezuela, Libya, Nigeria and Algeria among others. Three of them even signed the ISA framework agreement.
The ISA, an inter-governmental treaty based organisation, was formed with a shared ambition of 121 solar resource rich nations to undertake joint efforts required to reduce the cost of finance and technology and mobilise more than $1,000 of investment needed by 2030 for deployment of minimum 1,000 GW of solar energy across the globe.
These 121 potential member countries fall fully or partially between the Tropics of Cancer and Capricorn. India has, however, now proposed to open the gate of ISA for all
UN member countries - a move which will welcome many leftover countries, including neighbouring Pakistan, in its fold.
India’s proposal is, in fact, in sync with what Modi envisioned when he gave a call of ‘One World, One Sun, One Grid’ while addressing representative of 40 countries during the ISA Assembly in presence of the United Nations (UN) secretary-general Antonio Guterres and French minister of state for ecological and inclusive transition Brune Poirson.
He said, “Our dream is one world, one sun, one grid. If this dream becomes a reality, we can have 24 hours of power from the sun. All we need is to think differently and imaginatively.”
India’s external affairs minister Sushma Swaraj in her address at the Assembly told the gathering about the move to expand the membership of the ISA to all UN member countries. She said 70 countries have signed the framework agreement on the Alliance and of these, 44 have ratified it.
The first Assembly of the ISA will lay the foundation for global Solar Agenda. The Assembly, as supreme decision making body of the ISA, will steer the process to significantly harness solar energy for achieving universal energy access at affordable rates.
The occasion also saw inauguration of Indian Ocean Rim Association (IORA) renewable energy ministerial meeting and the second Global Renewable Energy Investment (REINVEST) summit. The IORA was set up with the objective of strengthening regional cooperation and sustainable development within the Indian Ocean Region with 21 member countries and seven Dialogue Partners. Its first meeting was held in Abu Dhabi, UAE in January, 2014.
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About the Author
Vishwa Mohan

Vishwa Mohan is Senior Editor at The Times of India. He writes on environment, climate change, agriculture, water resources and clean energy, tracking policy issues and climate diplomacy. He has been covering Parliament since 2003 to see how politics shaped up domestic policy and India’s position at global platform. Before switching over to explore sustainable development issues, Vishwa had covered internal security and investigative agencies for more than a decade.

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