International Solar Alliance partners with newly launched Global Energy Alliance for People and Planet (GEAPP) to accelerate energy transition – EQ Mag Pro

ISA to partner with GEAPP, helping unlock USD 100 billion in public and private financing, to deliver on fast-tracking clean energy solutions in Africa, Asia, and Latin America.

Glasgow, November 03, 2021: At COP26, the International Solar Alliance (ISA) and The Global Energy Alliance for People and Planet (GEAPP) announced a partnership for accelerating energy transition in Least Developed Countries and Small Island Developing States. The partnership will champion significant solar capacity generation globally while supporting grid-based and distributed renewable solutions.

Over the next decade, it aims to unlock USD100 billion in public and private capital and tackle three profound human problems simultaneously: (1) POWER – reaching one billion people with reliable, renewable energy; (2) CLIMATE – avoiding and averting four billion tons of carbon emissions; and (3) JOBS – building an on-ramp to opportunity by directly creating more than 150 million jobs.

Commenting on this partnership, Dr. Ajay Mathur, Director General, International Solar Alliance said, “We’re excited to be partnering with the Global Energy Alliance for People and Planet as part of our ongoing mission to accelerate our mission to solarize the world by 2030. With the right investment and regulatory conditions, solar power has the potential to mobilize billions of dollars in green investments, empower billions of people while averting billions of tons of emissions.

The ISA is continuously looking at ways and means to support the socio-economic goals of our member countries. Through our partnership with the GEAPP, the ISA will create an enabling policy and regulatory environment by building capacity of government, convening and research, and provide best-in-class project development support to build a strong pipeline of investable solar projects.

The partnership with GEAPP will provide much-needed support to LDCs and SIDS Member Countries in the implementation of innovative solar projects and in building resilience in key sectors such as agriculture and health with solar. The projects supported through this partnership will also help enable faster replication across other countries.

Through a large host of such interventions, I am confident that this partnership will make measurable progress in bringing clean, renewable energy to underserved communities around the world.”

“The world is undergoing an economic upheaval, in which the poorest are falling farther behind and being battered by climate change’s effects. Green energy transitions and renewable electrification is the only way to restart economic progress for all while at the same time stopping the climate crisis,” said Dr. Rajiv J. Shah, President of The Rockefeller Foundation.

“Providing people with an on-ramp to the modern economy while making real, measurable progress against the existential threat of climate change, the Global Energy Alliance for People and Planet is one of the boldest, most transformative initiatives in our history.”

As part of the engagement, ISA will act as a global delivery partner for GEAPP, providing project development and policy support across distributed renewable and grid-based energy transition in LDCs and SIDS member countries. More specifically, ISA is set to engage across the following four key areas enabling the breadth and depth of impact.

Rallying governments to respond to GEAPP country partnership calls. ISA will leverage its political leadership and country membership to help countries develop proposals in response to GEAPP country-partnership calls. This is critical to creating a pipeline of investable projects for the GEAPP.

Promoting the vision for global interconnected grids. ISA will continue to drive the grid-connectivity initiative through institutional set-up, pilot implementation and research combined with knowledge sharing.

Build capacity of governments for enabling policy and regulation. ISA will create an enabling policy and regulatory environment by building the capacity of government, convening and research, and providing best-in-class project development support to build a strong pipeline of investable solar projects.

Provide best-in-class project development. Finally, ISA will serve as GEAPP’s delivery partner, supporting with implementation planning, project development as well as technical assistance in the 10 to 15 least developed countries.

The Global Energy Alliance for People and Planet was launched during the COP26 World Leaders Summit (WLS) on November 2, 2021, simultaneously also announcing a Call for Proposals, which will incorporate a mechanism to ensure countries submitting energy access and energy transition proposals receive technical advice throughout the process to maximize viability and implementation success.

About International Solar Alliance

The International Solar Alliance is a growing international organisation of 80 member countries. ISA supports governments around the world to improve energy access and security by promoting solar energy as a sustainable, affordable, and resilient way to transition to a carbon-neutral future. ISA’s vision is to facilitate energy access in every corner of the world by delivering cleaner electricity to all by 2030.

ISA’s mission is to unlock USD 1 trillion of investment by 2030 by reducing the cost of the technology and its financing and increasing the skills of people working in the industry. The ISA will help deliver global relevance, local benefit to all countries through collaborations, with its key interventions focusing on readiness & enabling activities, risk mitigation & innovative financing instruments, which will then facilitate the promotion and deployment of technologies in respective target markets.

About The Global Energy Alliance for People and Planet (GEAPP)

The Global Energy Alliance for People and Planet (GEAPP) launched on November 2, 2021 at COP26 with USD10 billion of committed capital to accelerate investment in green energy transitions and renewable energy solutions in developing and emerging economies.

This historic partnership leverages catalytic grant funding to unlock investment capital with the aim of mobilizing USD100 billion in public and private capital in order to reach one billion people with reliable, renewable power, avoid and avert 4 billion tons of carbon emissions, and create more than 150 million direct jobs and drive economic growth over the next decade. The Alliance serves as a platform for collaborative action and provides grant funding, technical assistance, a range of financing options.