To catalyze global energy transition through a solar-led approach, on Tuesday (Jan 4, 2022), the Government of Antigua and Barbuda joined the International Solar Alliance (ISA).
In the presence of the Indian High Commissioner Dr KJ Srinivasa, Antigua Prime Minister Gaston Browne inked the framework agreement of ISA, making it the 102nd country to join this agreement.
What did the Indian High Commissioner say?
Welcoming Antigua & Barbuda to ISA, Dr KJ Srinivasa stated that signing the agreement was a step in the right direction.
Why is this important for the SIDS?
Since Antigua & Barbuda is one of the small island developing states (SIDS) in the Caribbean, it is vulnerable to climate change and its electricity generation is totally from fossil fuels.
And for electricity production and transportation, petroleum is used extensively. And with this agreement in place, the country would have access to not only funding but also new renewable energy technologies.
According to Dr Srinivasa, India is working with the government of Antigua and Barbuda towards finalizing proposals to avail USD 10 million line of credit assistance in the solar energy sector.
As has been reported earlier in Financial Express Online, in 2019, on the sidelines of UNGA, during his meeting with CARICOM leaders (India-CARICOM Summit) Prime Minister Narendra Modi had offered assistance of USD 150 million Line of Credit. Under this plan, USD10 million per CARICOM member state for solar energy and climate change related projects.
More about ISA
On the sidelines of COP21 Climate Conference in 2015, ISA was jointly set up by India and France. It was in the presence of Prime Minister Narendra Modi and the then-French President, Mr Francois Hollande.
An initiative has been conceived as a coalition of solar resource rich countries. And through a common and agreed approach to provide a platform for collaboration to address the identified gaps. And also, to address their special energy needs.