Description

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Context:

The Global Energy Alliance for People and Planet (GEAP) signed a Multi-Donor Trust Fund with International Solar Alliance aiming to mobilize $100 million to fund high-impact solar energy projects.

About the Global Energy Alliance for People and Planet

It is an alliance of philanthropy, governments, technology, policy, and financial partners.
Its mission is to enable developing and developed economies to transition to a clean energy, pro-growth model that accelerates universal energy access and inclusive economic growth while supporting the global community in meeting critical climate goals over the next decade.
It aims to reduce future carbon emissions by 4 gigatonnes, expand access to clean energy for one billion people, and create 150 million new jobs.

Initiatives announced by GEAPP

Program/Partnership	Description	Key Features/Goals
Multi-Donor Trust Fund	A collaboration between GEAPP and ISA to mobilize $100 million for high-impact solar energy projects.	Governance oversight by GEAPP. Fundraising support. Expertise in energy transition planning, financing, and project implementation.
DUET (Digitalization of Utilities for Energy Transition)	A program to digitalize grid systems by developing a technology suite that digitally captures and integrates all grid assets with live smart sensors for real-time data.	Digitalization of grid assets (geo coordinates, specifications, etc.). Real-time tracking of voltage, current, and phase data. Reduction of T&D losses.
ENTICE 2.0 (Energy Transitions Innovation Challenge)	A platform to identify, nurture, and scale innovative solutions for accelerating India's startup ecosystem and achieving sustainability goals. First launched in 2023, ENTICE 2.0 will start in January 2025 with an expanded scope.	Focus on scaling investable opportunities. Access to funding, market linkages, and mentorship. Supports innovations for energy transition and sustainability.

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About International Solar Alliance

GEAPP digital platform boosts PM-KUSUM solar power

Source:

Financial Express

PRACTICE QUESTION

Q.Critically examine the role of the Global Energy Alliance for People and Planet in accelerating energy transitions in developing countries. How does it contribute to the global goals of sustainable development? (250 words)