NewsVoir
New Delhi [India], January 7: Reaffirming its commitment to accelerating India's clean energy transition, the Global Energy Alliance for People and Planet (GEAPP) announced three key forward-looking initiatives and partnerships at a high-level stakeholder convening in New Delhi: a Multi-Donor Trust Fund (MDTF) in partnership with the International Solar Alliance (ISA), DUET (Digitalization of Utilities for Energy Transition) and ENTICE 2.0 (Energy Transitions Innovation Challenge). Together, these initiatives bridge financing gaps, enhance institutional capacity and foster cost-efficient scalable solutions to support India's clean energy transition.
GEAPP strengthened its partnership with International Solar Alliance (ISA) by signing ISA's Multi-Donor Trust Fund, which aims to mobilize $100 million to fund high-impact solar energy projects. As the lead organization for the MDTF, ISA will drive the overarching vision and strategic direction of the program, ensuring that solar energy initiatives meet the needs of its member countries. GEAPP, through its Project Management Unit, will support ISA by providing governance oversight, facilitating fundraising efforts, and leveraging its expertise in energy transition planning, financing, and project implementation.
Dr. Ajay Mathur, Director General, ISA, commented, "This agreement marks an exciting step in our ongoing collaboration with GEAPP to accelerate the clean energy transition. By aligning our efforts through partnership, we are better positioned to deliver sustainable and impactful solutions to countries seeking to scale solar energy. GEAPP's expertise will help grow the Multi-Donor Trust Fund (MDTF) into a powerful tool to deliver renewable energy access in our Member Countries and support the realization of their climate and energy goals."
DUET (Digitalization of Utilities for Energy Transition) is a program focused on the digitalization of grid systems through the development of a technology suite in which all grid assets are digitally captured (including geo-coordinates, specifications, etc.) and integrated with live smart sensors for real-time data. The system will conduct load flow analysis and real-time tracking of voltage, current, and phase data to reduce transmission and distribution losses. It will also assist in BESS deployment and DRE integration into the grid.
ENTICE 2.0 (Energy Transitions Innovation Challenge), powered by GEAPP, is a platform designed to identify, nurture, and scale innovative solutions that have the potential to accelerate India's startup ecosystem and help achieve its sustainability goals. First launched in 2023, ENTICE aims to help scale innovations for the energy transition by facilitating access to funding, market linkages and mentorship. ENTICE 2.0 will kickstart in January 2025, and will go beyond the scope of ENTICE 1.0 by focusing on supporting and scaling investable opportunities.
GEAPP's involvement in the Multi-Donor Trust Fund, DUET and ENTICE 2.0 underscore its commitment to driving innovation and addressing the challenges of reliable, clean energy access and climate change in India.
"At GEAPP, we believe that the path to a sustainable and inclusive future lies in accelerating the transition to renewable energy, particularly in emerging markets that are poised to drive global change. The signing of the MDTF with ISA highlights the critical role of strategic alliances in mobilizing resources to accelerate clean energy adoption. Our initiatives, such as ENTICE 2.0 and DUET, aim to foster innovation and deliver scalable solutions that drive sustainable economic growth and empower communities. By alliancing with diverse partners, we can unlock the full potential of renewable energy and create a more resilient global energy system," said Woochong Um, CEO of GEAPP.
Saurabh Kumar, Vice President - India at GEAPP, also presented the Alliance's three-year strategy and impact targets for India, with a specific focus on ENTICE 2.0 and contributions to Energy Transition Planning (ETP).
This stakeholder convening brought together key industry leaders to discuss an action-oriented roadmap towards India's goal of building 500 GW of renewable energy capacity. It also coincided with the visit of Dr. Rajiv J. Shah, President of The Rockefeller Foundation, to India. Dr. Shah's visit emphasized the critical role of philanthropy in advancing the global energy transition and supporting India's clean energy efforts.,
The International Solar Alliance is a global initiative launched in 2015 by India and France at the COP21 in Paris, with 120 Member and Signatory countries. It works with governments to improve energy access and security worldwide and promote solar power as a sustainable transition to a carbon-neutral future. ISA's mission is to unlock US$1 trillion of investments in solar by 2030 while reducing the cost of the technology and its financing. It promotes the use of solar energy in the agriculture, health, transport, and power generation sectors. ISA Member Countries are driving change by enacting policies and regulations, sharing best practices, agreeing on common standards, and mobilizing investments. With the signing and ratification of the ISA Framework Agreement by 15 countries on 6 December 2017, ISA became the first international intergovernmental organization to be headquartered in India. ISA is partnering with multilateral development banks (MDBs), development financial institutions (DFIs), private and public sector organizations, civil society, and other international institutions to deploy cost-effective and transformational solutions through solar energy, especially in the least Developed Countries (LDCs) and the Small Island Developing States (SIDS).
For more information, visit the ISA website: www.isa.int
The Global Energy Alliance for People and Planet (GEAPP) is an alliance of philanthropy, governments, technology, policy, and financing partners. Our common mission is to enable emerging and developed economies to shift to a clean energy, pro-growth model that accelerates universal energy access and inclusive economic growth while supporting the global community to meet critical climate goals during the next decade. As an Alliance, we aim to reduce 4 gigatons of future carbon emissions, expand clean energy access to one billion people, and enable 150 million new jobs. With philanthropic partners the IKEA Foundation, The Rockefeller Foundation and Bezos Earth Fund, GEAPP works to build the enabling environment, capacity, and market conditions for private sector solutions, catalyze new business models through innovation and entrepreneurship, and deploy high-risk capital to encourage private sector solutions and assist just transition solutions.
For more information, please visit www.energyalliance.org and follow us on Twitter at @EnergyAlliance
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