India’s response to China’s One Belt One Road, Global Electivity Grid construction initiative, The main idea of a project in the form of a global electricity grid is to develop a common solar energy transmission system centered around the world. The Government of India has recently invited proposals from advisory firms on this subject so that the roadmap for a long-term global electricity grid can be prepared in an inclusive manner. India intends to play a leadership role in the field of global energy security by launching such cross-border energy projects with South-East Asian countries, the Middle East, and African countries. Analysts believe that the idea of One Sun One World One Grid has been made by India on the lines of China’s One Belt One Road initiative to identify China with its global role. India’s response to China’s One Belt One Road, Global Electivity Grid construction initiative
While China’s One Belt One Road initiative focuses on infrastructure development projects in countries around the world, India’s plan focuses on cooperation with countries around the world in the field of solar energy. India knows its potential and limitations to what level it can take a global project forward and to what level it can invest loan, and grant. This thing also gives him a special place in world politics. Prime Minister Narendra Modi gave the idea of cross border solar connectivity in October 2019. This year, India has also started talks with World Bank officials to give a concrete shape to the global electricity grid.
India proposes the formation of World Solar Bank: India has also proposed the formation of a World Solar Bank to reduce the cost of finance and technology to fulfill the mission of the International Solar Alliance. This bank can have a total of $ 10 billion with a paid-up capital of two billion dollars. India’s stake in this proposed solar bank can be up to 30 percent. Actually, the intention of India is that the headquarters of such a bank should be located in India, so that it can get an effective edge in this direction. The BRICS is home to the New Development Bank of the BRICS countries as well as the Asian Infrastructure Investment Bank. China has kept an eye on the functioning of these banks, which has also benefited them.
If success is achieved in establishing the headquarters of World Solar Bank in India, then India will be able to set new standards in the field of renewable energy and that too in an independent manner. New Development Bank of BRICS recently announced that 50 percent or more of its funds will be invested in renewable energy projects. But in this context, the roles of BRICS members China, Russia, Brazil, and South Africa are also set in this bank and as China thinks specifically for its benefits, India through the International Solar Alliance and the World Solar Bank, third world countries Can play its role of energy security provider in an independent manner without interference
The International Solar Alliance has set a target of attracting investment of one thousand billion dollars by 2030 for the development of solar energy resources and technologies. From this perspective, it is beneficial for India to succeed in the formation of the World Solar Bank. This will aid the planning of the Global Electricity Grid and hence it is envisaged that this bank is connected to countries like Myanmar, Thailand, Cambodia, Laos, and Vietnam with the Indian subcontinent and the issue of energy security as tools to make Indian diplomacy effective. As can be seen.
Sustainable Indian interest through the proposed electricity grid and solar bank: India has several infrastructure developments and energy projects underway with South-East Asian countries. It has been decided to extend the trilateral highway between India, Myanmar, and Thailand to Vietnam, Laos, and Cambodia. At the same time, India’s Kaladan multimodal transport project with Myanmar is being run, and the Mekong Ganga initiative is also strengthening relations between India and ASEAN countries. Under these conditions, India can achieve the goals of its budding Act East policy by laying the foundation for a stronger relationship with ASEAN through its proposed energy diplomacy. India will have to take measures to add important nations in its favor for uninterrupted trade activities in the Asia Pacific region. Anyway, the South East Asian country is troubled by the encroaching politics of China. Therefore, the idea of linking ASEAN countries with solar energy projects can prove to be meaningful for India in many ways.
Similarly, India has started trying to mobilize African countries on the issue of solar energy. Many African countries are members of the International Solar Alliance led by India, on the other hand, China has shown recent engagement in linking African countries with its Asian Infrastructure Investment Bank. Last year itself, Benin, Rwanda, and Djibouti have been made members of this Chinese-led bank. In the current world order, any method can be adopted by nations to fulfill their national interests. Whether it is energy diplomacy, foreign direct investment, or other investment, making nations eligible by giving loans and grants, in such a way, the nations continue to prove their interests.
India has also started the exercise to achieve its broad objectives in world and regional politics by following these methods. China, under its One Belt One Road initiative, has begun to lay a network of power grids in the countries of the world, a network of deep seaports for oil and natural gases. In such a situation, it was necessary for India to work in this direction. India along with Japan has formed the Asia Africa Growth Corridor in the African continent with this aim.
India has recently proposed the creation of a Global Electricity Grid, strengthening the concept of One Sun One World One Grid. Under this, the Ministry of New and Renewable Energy has formulated a plan to form a global consensus on the issue of sharing of solar energy resources among more than 140 countries of the world including West Asia and South East Asia. Through this project, India is certainly looking for new initiatives in energy diplomacy. India has also focused on building cross-border energy corridors with neighbouring countries. The Maitri Super Thermal Power Plant, Rampal Power Plant in Bangladesh, the cross-border oil pipeline from Motihari to Amlekhganj between Nepal and India has been started with this objective. India has also planned a regional power grid with neighbouring countries, similar to the Global Electricity Grid so that it can supply energy to countries like Bhutan, Nepal, Myanmar and Bangladesh as well as Sri Lanka. Cross border electricity trade has gained an important place in India’s foreign policy
India had also signed an agreement in this context with SAARC countries in November 2014 and in August 2018 a memorandum of understanding was signed with BIMSTEC countries for similar electric grids. In addition to increasing its solar power diplomacy, the Indian government has also provided a ten billion dollar loan facility at concessional interest rates for solar power projects in Africa. India’s Import-Export Bank is implementing this loan facility in collaboration with ISA member countries. India on September 24, 2019, during a session of the United Nations General Assembly, gave a grant of US $ 12 million to the developing countries of the Pacific island region for their projects related to solar energy, renewable energy and climate and $ 150 million loan at concessional rates. The facility was announced.
India’s path in solar energy: Government of India has set a target of 175 GW of renewable energy installed capacity by the end of 2022. This includes 60 GW from wind energy, 100 GW from solar power, 10 GW from biomass energy and five GW from small hydropower. To give impetus to this vision, emphasizing the need for global cooperation in this area reflects India’s thinking. Under the Grid Connected Renewable Energy, the capacity of 27 GW of renewable energy has been augmented during the last three and a half years including 12.8 GW from solar power, 11.7 GW from wind power, 0.59 GW from small hydro and 0.79 GW from bioenergy. Encouraged by the growth rate of the clean energy sector, the Government of India, in its report presented to the United Nations Climate Change Framework Convention on Targeted National Defined Contribution, said that India will be able to transfer non-technology, including the transfer of technology and Green Climate Fund, by 2030 with the help of low-cost international finance. – 40% cumulative electric power capacity will be generated from fossil fuel-based energy resources.
In this way, India has given a message to the world community that it is not limited to making big claims and promises in the field of solar energy, but to make renewable energy a real basis for its energy security while fighting the fossil fuels at an effective level. Is also active for Now India has to see that it has to devise a suitable strategy for technology transfer including financial system, along with the real obstacles in the path of solar energy and other renewable energy targets which it has set, as well as the emphasis on development of indigenous solar technology. have to give.
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