Explanation:

Recently, Five Public Sector Undertakings (PSUs) under Petroleum & Natural Gas Ministry will be joining International Solar Alliance (ISA)’s Coalition for Sustainable Climate Action (ISA-CSCA) as Corporate Partners.

• Oil and Natural Gas Corporation Limited (ONGC), Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL) and GAIL (India) Limited will be contributing to ISA’s Corpus Fund.
• This was announced by Minister of Petroleum and Natural Gas Dharmendra Pradhan during his inaugural Speech at the First World Solar Technology Summit organized by ISA.
• The International Solar Alliance (ISA) is an alliance of 121 countries initiated by India, most of them being sunshine countries, which lie either completely or partly between the Tropic of Cancer and the Tropic of Capricorn.
• The primary objective of the alliance is to work for efficient exploitation of solar energy to reduce dependence on fossil fuels.

Hence both statements are correct.