Indian Industry to Set-up Energy Infra in ISA Member Countries, says Power Min

While speaking at the signing of the host country agreement between the ISA and India, the Minister also talked about doing necessary de-risking in this regard.

The Power and New & Renewable Energy Minister RK Singh has emphasized on the need for our industry to go and set up energy infrastructure in other ISA member countries.

While speaking at the signing of the host country agreement between the ISA and India, the Minister also talked about doing necessary de-risking in this regard.

He said ISA has potential to change developmental paradigm in the world.

Energy will now be available to less developed tropical countries at affordable rates and in an easily deployable manner, he added.

Singh also mentioned that many countries have shown interest to learn from India’s experience in renewable energy.

The International Solar Alliance (ISA) and the External Affairs Ministry of India has signed the ‘Host Country Agreement’ in New Delhi.

The move will give ISA a juridical personality and gives it power to contract, to acquire and dispose off movable and immovable properties, to institute and defend legal proceedings.

As per the pact signed, ISA shall enjoy such privileges, applicable tax concessions and immunities as are necessary for ISA’s Headquarter to independently discharge its function and programmes.

ISA shall be deriving its status, privileges and immunities as per Article 10 of the Framework Agreement.