International Solar Alliance
- It is a common platform for cooperation among sun-rich countries lying fully or partially between the Tropics of Cancer and Capricorn.
- These countries seek to massively ramp up solar energy, thereby helping to reduce global greenhouse emissions while providing clean and cheap energy.
- The initiative was launched at the UN Climate Change Conference in Paris at the end of 2015 by the President of France and the Prime Minister of India.
- India has contributed around $27 million for the ISA corpus to meet the cost of its Gurugram based secretariat for the first five years.
- To reduce the cost of finance and cost of technology for the immediate deployment of competitive solar generation, storage and technologies adapted to countries’ individual needs
- To mobilise billions of dollars for solar technologies
Key Focus Areas
- Followings are the key focus areas:
- To promote solar technologies, new business models and investment in the solar sector to enhance prosperity
- To formulate projects and programmes to promote solar applications
- To develop innovative financial mechanisms to reduce cost of capital
- To build a common knowledge e-Portal
- To facilitate capacity building for promotion and absorption of solar technologies and R&D among member countries
Extending its footprint beyond the tropics
- The fast pace has kindled interest among countries which were not originally included in the group of 121 prospective members.
- ISA will open its doors even for countries which do not fall fully or partially between the Tropics of Cancer and Capricorn but whether they’ll get voting rights or not is yet to be decided.
- Though the framework agreement of the ISA has a provision for other nations to join as partner countries, most of them would like to join with voting rights.
- Countries like Germany, Nepal, Korea, Mongolia and others, who are outside the tropics, have shown keen interest to join ISA with voting rights.
- The steering committee of ISA with India as its chair and France as its co-chair will consider the issue of membership of interested countries.
Section : Environment & Ecology