• The Union Cabinet has given its ex-post facto approval for entering into Headquarters (Host country) Agreement between India and the International Solar Alliance (ISA) and authorizing the Ministry of External Affairs for signing the Headquarter Agreement.
=> Significance of the agreement
• The Headquarters Agreement will institutionalize the functional arrangements between India and ISA.
• It will help in smooth transition of ISA as international inter-governmental organization.
• Creation of ISA will lead to accelerated solar technology development and deployment in ISA member countries including India.
=> Significance of ISA for India
• The ISA is not only expected to spur innovation in the RE space but also help make India a technological hub with independent manufacturing capabilities of RE equipment like solar panels, rather than being dependent on imports, through initiatives like ‘Make in India’.
• India’s Ministry of External Affairs is expected to play a role in “marrying Indian tech and finance capabilities with specific projects around the world”.
• India announced a goal of obtaining 40% of its electricity from non-fossil fuels by 2030 at the Paris climate change summit.
• It is close to achieving 20 GW grid connected solar power generation capacity this fiscal year (2018), in pursuit of achieving its target of 100 GW by 2022.