ISA AND INDIA SIGN THE HOST COUNTRY AGREEMENT: ISA a Juridical Personality Now
The International Solar Alliance (ISA) and the Ministry of External Affairs (MEA), signed the Host Country Agreement in New Delhi on March 26, 2018. The agreement 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. Under this agreement, 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 Framework Agreement.
The agreement was signed by General (Dr) V K Singh, Minister of State, Ministry of External Affairs and Shri Upendra Tripathy, Interim Director General, ISA in the gracious presence of Shri R K Singh, Union Minister of State (IC) for Power and New and Renewable Energy.
Congratulating the signatories, Shri 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 mobilize over $1,000 billion of investment into the solar sector and deploying over 1,000 GW of solar capacity. He also stated that ISA needs to firm up financial partnership deals with more multilateral and bilateral donor agencies in order to meet its stated objectives. Shri Upendra Tripathy called the signing of Host Country Agreement an important milestone and thanked the Government of India for its wholehearted support. Secretary, MNRE; Secretary (ER), MEA were among the dignitaries present at the event.