The founding ceremony of the International Solar Alliance was held in New Delhi on March 11. It was followed by the first summit of the Alliance. India had announced one of the world’s largest investment plans in solar energy at the Founding Conference of the International Solar Alliance (ISA). The $1.4 billion line of credit will cover 27 projects in 15 countries and boost the much-required financial power to the solar sector.
The International Solar Alliance (ISA) was unveiled by Prime Minister Narendra Modi and then French President Francois Hollande at the U.N. Climate Change Conference in Paris on November 30, 2015. The idea was to form a coalition of solar resource-rich countries to collaborate on addressing the identified gaps in their energy requirements through a common approach. Towards this, the ISA has set a target of 1 TW of solar energy by 2030, which current French President Emmanuel Macron said would require $1 trillion to achieve.
The member countries
The ISA is open to 121 prospective member countries, most of them located between the Tropics of Cancer and Capricorn as this is the region worldwide with a surplus of bright sunlight for most of the year.
So far, 56 countries have signed the ISA Framework Agreement. These include Australia, Bangladesh, Benin, Brazil, Burkina Faso, Cabo Verde, Cambodia, Chad, Chile, Comoros, Costa Rica, Cote d'Ivoire, Cuba, Djibouti, Dominican, Republic, DR Congo, Equatorial Guinea, Ethiopia, Fiji, France, Gambia, Gabon, Ghana, Guinea, Guinea-Bissau, Guyana, India, Kiribati, Liberia, Madagascar, Malawi, Mali, Mauritius, Mozambique, Nauru, Niger, Nigeria, Peru, Rwanda, Sao Tome, Senegal, Seychelles, Somalia, South Sudan, Sri Lanka, Sudan, Suriname, Tanzania, Togo, Tonga, Tuvalu, UAE, Uganda, Vanuatu, Venezuela and Yemen.
Apart from being a founding-member, India plays a significant role in the alliance in terms of being a host as well as a major contributor to the achievement of the target. The ISA is the first international body that will have a secretariat in India. India, with a target to produce 100 GW of solar energy by 2022, would account for a tenth of ISA’s goal.