India plans to leverage International Solar Alliance (ISA) to help project its solar power expertise to small island countries, said two people aware of the development.
A case in point being Maldives where the solar power tariffs have fallen by half. India is helping the atoll nation to tide over economic woes caused by the pandemic that originated in Wuhan, after a period that saw the former leadership of the Maldives leaning towards China.
“As economic development is heavily driven by energy, a sustainable way to extract and use energy is critical, especially for Small Island Developing States “ said Dr. Hussain Rasheed Hassan, Maldives’ environment minister in an emailed response.
“It is also worthwhile to note that, without private sector investments, we will not be able to scale up our renewable energy installations rapidly,” he added.
This comes in the backdrop of ISA inking a partnership agreement with state-run NTPC Ltd for developing solar projects in 47 of least developed and small island developing member countries.
Also, ISA has become a significant foreign policy tool for New Delhi even as China attempts to co-opt countries into its ambitious One Belt One Road initiative.