Global Energy Alliance for People and Planet

10.01.2025

Global Energy Alliance for People and Planet

Why in the news?               

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

About Global Energy Alliance for People and Planet:

• It is an alliance of philanthropists, governments, technology, policy, and financing partners.
• Its 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.
• It aims to reduce 4 gigatons of future carbon emissions, expand clean energy access to one billion people, and enable 150 million new jobs.

Initiatives announced by GEAPP:

Multi-Donor Trust Fund:

• GEAPP has 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.
• GEAPP, through its Project Management Unit, supports ISA by providing governance oversight, facilitating fundraising efforts, and leveraging its expertise in energy transition planning, financing, and project implementation.

DUET (Digitalization of Utilities for Energy Transition):

• It 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.

ENTICE 2.0 (Energy Transitions Innovation Challenge)

• It 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.

                                                                  Source: Financial Express

Consider the following statements regarding the Global Energy Alliance for People and Planet:

1. It is an alliance of philanthropy, governments, policy, and financing partners.

2. It has signed a Multi-Donor Trust Fund with International Solar Alliance to mobilize $100 million to fund high-impact solar energy projects.

Which of the statements given above is/are correct?

A.1 only

B.2 only

C.Both 1 and 2

D.Neither 1 nor 2

Answer C