Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: In a significant move towards promoting renewable energy, the House of Representatives today passed a proposal seeking the ratification of a framework agreement related to Nepal’s membership in the International Solar Alliance (ISA). The proposal was presented to the house by Minister for Energy, Water Resources, and Irrigation, Shakti Bahadur Basnet.
During the parliamentary session, several members, including Raghuji Pant, Madhav Sapkota, Juli Mahato, Lal Prasad Sawa Limbu, Amar Bahadur Thapa, Devendra Poudel, Prem Suwal, Dhruva Bahadur Pradhan, Rajendra KC, and Nagina Yadav, participated in the discussion regarding the proposal.
Responding to the queries raised during the discussion, Minister Basnet highlighted the multiple benefits of the framework agreement. He emphasized that it is in the nation’s interest from economic, technological transfer, and clean energy perspectives. He noted that joining the ISA would help address the seasonal gaps in power production, particularly during dry and rainy seasons.
The ISA, as described on its official website, is an action-oriented, member-driven, collaborative platform aimed at increasing the deployment of solar energy technologies. It aims to provide energy access, ensure energy security, and drive energy transition in its member countries. The alliance focuses on developing and deploying cost-effective and transformational energy solutions powered by the sun, with a particular emphasis on supporting Least Developed Countries (LDCs) and Small Island Developing States (SIDS) in achieving low-carbon growth trajectories.
Currently, 119 countries have signed the ISA Framework Agreement. Out of these, 98 countries have submitted the necessary instruments of ratification to become full members of the ISA.
The ratification of this agreement marks a significant step for Nepal in its commitment to renewable energy and sustainable development. By joining the ISA, Nepal aims to leverage international collaboration to enhance its solar energy capabilities and contribute to global efforts in combating climate change.
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