First International Solar Alliance (ISA) Summit – Overview
The founding conference of International Solar Alliance (ISA) was held on March 11, 2018 in New Delhi.
Highlights of Founding Conference of International Solar Alliance:
The conference was co- hosted by Indian President Ram Nath Kovind and visiting French President Emmanuel Macron.
- While addressing the conference, Prime Minister Narendra Modi stated that India has set a target to generate 175 GW of electricity from renewable energy sources by 2022. Out of 175 GW, 100 GW will be generated by harnessing solar energy.
- PM Modi also outlined a 10-point action plan to bring about a “worldwide solar revolution”.
- The 10-point action plan includes measures to make affordable solar technology available to all nations, framing regulations and standards to support the initiative and raising the share of electricity generated from photovoltaic cells in the energy mix.
- Deliberations at the conference also focused on ISA finance mechanism for the promotion of solar energy, crowd-funding and technology transfer.
- First ISA Summit was attended by:23 heads of state, 10 ministerial representatives of different countries, Heads of UN agencies, Presidents of multilateral development banks, heads of global funds and financial institutions and energy-related institutions.
- The ‘Delhi Solar Agenda’ was also launched during the first ISA Summit. As per the agenda, 62 member nations have committed that they will increase share of solar power in their national energy mix to deal with climate change and provide energy to underprivileged section of the society.
- PM Modi announced that India would give $1.4 billion in aid to 15 other developing nations for executing 27 solar projects while French President Emmanuel Macron pledged over $860 million for solar projects in developing countries.
About International Solar Alliance (ISA):
The International Solar Alliance is an alliance of countries which are located completely or partly between Tropic of Cancer and Tropic of Capricorn.
- It was jointly launched by the Prime Minister of India Narendra Modiand the then President of France Francois Hollande in November 2015 in Paris, on the side lines of United Nations Climate Change Conference, COP 21.
- Under the ISA, solar rich countries will collaborate to fulfil their objectives and needs pertaining to solar energy by emulating successful practices and setting up common mechanisms and instruments for harnessing solar energy on a huge scale.
- The joint goal is to have 1 TW of solar energy by 2030, which would entail investments to the tune of $ 1000 billion.
- On December 6, 2017, ISA Framework Agreement entered into force and ISA thus became a legal, treaty based International Intergovernmental Organization.
- Headquarters of ISA is located in Gurugram, Haryana, India.
- Countries at the ISA represent three-fourths of the world population.