ISA, India ink Host Country Pact; ISA now Juridical Personality

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.

ISA

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.

The agreement was signed by General (Dr.) V.K. Singh, Minister of State, Ministry of External Affairs and Upendra Tripathy, Interim Director General, ISA in the presence of RK Singh, Power and New & Renewable Energy Minister.

Congratulating the signatories, R.K. Singh said that ISA has potential to change developmental paradigm in the world. He said that energy will now be available to less developed tropical countries at affordable rates and in an easily deployable manner.

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

He emphasized the need for our industry to go and set up infrastructure in these countries and talked about doing necessary de-risking in this regard.

General (Dr.) V.K. Singh also congratulated ISA and stated that ISA has an onerous task at hand to mobilise over USD 1000 billion of investment into the solar sector and deploying over 1000 GW of Solar capacity.

He also stated that ISA need to firm up financial partnership deals with more multilateral and bilateral donor agencies in order to meet its stated objectives.

Upendra Tripathy called the signing of Host Country Agreement an important milestone and thanked the Government of India for its wholehearted support.

Manu Tayal

Manu Tayal

Manu is an Associate Editor at Saur Energy International where she writes and edits clean & green energy news, featured articles and interview industry veterans with a special focus on solar, wind and financial segments.

      SUBSCRIBE NEWS LETTER
Scroll