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ISA targets $1 trn in solar funds by 2030; S Asia in phase-1 of world grid

Talks will also revolve round the $1 trillion Solar Investment Roadmap for 2030, and approval of a blended financial risk mitigation facility

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The ISA during the first day of meetings in its fourth general assembly discussed the OSOWOG plan and the need for it to be part of the India’s climate action plan

3 min read Last Updated : Oct 18 2021 | 10:39 PM IST

To kickstart the ambitious One Sun, One World, One Grid (OSOWOG) project floated by the International Solar Alliance (ISA), the South Asian network and existing power transfer between India, Nepal, Bhutan and Bangladesh would be boosted in the first phase of the action plan.

Prime Minister Narendra Modi in his Independence Day address last year, reiterated the mega plan of having OSOWOG or a transnational electricity grid supplying solar power across the globe. The idea was first announced by the PM in 2018 during the first assembly of another international entity, the ISA.

A government statement said, the Fourth Assembly of the ISA, which is being hosted in India this week, will deliberate on the key initiatives around the operationalisation of the OSOWOG initiative, the $1 trillion Solar Investment Roadmap for 2030, and approval of a blended financial risk mitigation facility.