The International Solar Alliance (ISA) is planning to launch the World Solar Bank (WSB) at the United Nations Climate Change Conference in Glasgow in November 2021. This will be a step towards India’s attempt to become a leader in the climate arena.
Key Points
- The development of the World Solar Bank (WSB) is significant as green finance will be among priority themes at the climate meet called COP-26.
- ISA Director General Upendra Tripathy said that they are aiming to launch a Green Grid Initiative (GGI), a Sun Charter, and the World Solar Bank at COP-26 at Glasgow.
- World Solar Bank (WSB) is expected to be headquartered in India.
- Along with the plan for setting up the WSB, ISA is the nodal agency for implementing the global electricity grid plan of India, One Sun One World One Grid (OSOWOG).
- OSOWOG aims to transfer solar power generated in one region to feed the electricity demands of others.
- Green Grid Initiative (GGI) is a joint effort of Climate Parliament and ISA to display India’s Green Energy Corridor (GEC) as an example to the world.
- It will also encourage all member countries to emulate India’s GEC and integrate them into OSOWOG.
- A consortium led by French state-run power utility firm EDF and including India’s The Energy and Resources Institute (Teri) and France’s AETS has been given the task of creating the road map for the global grid OSOWOG.
The ISA is the first treaty-based international government organization headquartered in Gurugram, India. It was co-founded by India and France in the year 2015 at a climate change conference in Paris.
