ISA to sign 121 solar projects by 2nd edition of Global RE-INVEST in April 2018

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India’s Ministry of New and Renewable Energy (MNRE) is organizing the second Global RE-Invest India – ISA partnership renewable energy investors meet and expo from April 19 -21, 2018. A letter written by Senior Consultant (R&D) ISA, proposes to sign solar projects in the presence of Prime Minister of India, Narendra Modi and President of France, Emmanuel Macron and the UN secretary-general, António Guterres.

50 projects will be signed on March 11, 2018 during ISA Solar Summit, and 71 will be signed on April 20, 2018 at RE-Invest summit. ISA has released a roadmap for this, with an objective that MNRE and ISA as partners of RE-Invest would like to consult and engage with all the stakeholders of ISA and mobilize 121 solar projects. 121 is quite a number as it signifies the number of prospective member countries of ISA.

The projects considered for this plan have a broad definition of promoting solar applications for the poor, for the industry, for corporates, and for the government. These projects can be small or big, in public or private sector. The projects can be in any combination private to private, private to government.

The conditions for the project is that they should be physical activity involved for solar power generation with the help of financial institutions. The project should also be clean, sustainable, scalable and financially viable.

ISA has already signed following seven projects during WFES in Abu Dhabi.

Sr. No.Company NameProject Name
1.Vyonarc Developers50 MW solar plant at Niger, and Nigeria
2.Shakti Pumps2000 solar agri pumps at Ghana
3.Kosol Energy2 MW Rooftop solar plant at San Francisco, the USA using Indian made solar panels of Kosol Energy, Ahmedabad, India
4.Amplus SolarMOU with AEG, Kuwait for 50 MW Rooftop solar PV project on BOOT (Built, Own, Operate and Transfer) Mode
5.Zodiac Energy1 MW rooftop solar plant at village Rajpur,
district Mehsana, Gujarat, India
6.Gensol Group

Solarig, Spain

Advanced Monitoring and Analytics, and Platform at Spain and India
7.Jakson SolarInnovative solar products for African markets

It wants now to sign projects on similar lines. If signed, it will be next level step for ISA. ISA is considering developing standard formats for signing the projects; these will be in the form of a letter of intent/agreement/commitment. The formats will be developed by Global Solar Council (GSC) and National Solar Energy Federation of India (NSEFI) in consultation with ISA.

Golden opportunity for developers, and manufacturers

ISA in partnership with PHD Chambers of Commerce & Industry will organize the second Action-to-Transaction meet for 121 projects on March 07, 2018 between 3-5pm at New Delhi.

Ministry of New and Renewable Energy (MNRE) and ISA are planning to invite 50 solar developers and 50 bankers on the first-cum-first basis. ISA mentioned that the meet would provide a golden opportunity for project developers, and solar equipment manufacturers for interaction with Banks to secure funds they are looking for the bankable solar energy, and related projects for financing and implementation in India, and ISA member countries.

Earlier in first Action-to-Transaction meet, which was held on February 23, 2018, 17 companies had submitted commitments to set up 80 solar energy projects ins ISA countries.

Therefore, the idea of the second meet is also to bring banks and developers on a common platform so that projects can get the required finance.

ISA has also welcomed senior-level executives representing solar manufacturers, developers, financial institutions, green funds, innovators, and startups to the meeting.

ISA ratified countries

As of March 1, 2018, 26 countries have signed and ratified the ISA framework agreement: Australia, Bangladesh, Comoros, Cuba, Fiji, France, Gabon, Ghana, Guinea, Guyana, India, Madagascar, Malawi, Mali, Mauritius, Nauru, Niger, Peru, Rwanda, Seychelles, Somalia, South Sudan, Sri Lanka, Togo, Tuvalu, and Uganda.