ISA to become a Treaty-based International Intergovernmental organization
ISA to become a Treaty-based International Intergovernmental organization
Headquarter:
- National Institute of Solar Energy-Gurgaon, Haryana
Launched by:
- Prime Minister of India Shri Narendra Modi and the President of France on 30th November 2015 in Paris
Aim:
It aims at addressing obstacles to deployment at scale of solar energy through better harmonization and aggregation of demand from solar rich countries lying fully or partially between the Tropic of Cancer and Tropic of Capricorn
In terms of its Framework Agreement, with ratification by Guinea as the 15th country on 6th November 2017, the International Solar Alliance (ISA) will become a treaty-based international intergovernmental organization on 6th December 2017.
Signatory Countries (46)
| Australia | Democratic Republic of Congo | Fiji | Liberia | Peru | Tonga |
| Bangladesh | Comoros | France | Madagascar | Rwanda | Togolese Republic |
| Benin | Cote d’Ivoire | Gabonese Republic | Malawi | Senegal | Tuvalu |
| Brazil | Djibouti | Ghana | Mali | Seychelles | UAE |
| Burkina Faso | Cuba | Guinea | Mauritius | Somalia | Vanuatu |
| Cambodia | Dominican Republic | Guinea Bissau | Nauru | South Sudan | Venezuela |
| Chile | Ethiopia | India | Niger | Sudan | |
| Costa Rica | Equatorial Guiana | Kiribati | Nigeria | Tanzania |
Ratifying Countries (19)
| India | Australia | Comoros | Bangladesh | Cuba |
| France | Fiji | Guinea | Ghana | Malawi |
| Mali | Mauritius | Nauru | Niger | Peru |
| Seychelles | Somalia | South Sudan | Tuvalu |
ISA Interim Secretariat has been operational as a de-facto organization since 25th January, 2016. Three programmes-Scaling Solar Applications for Agriculture Use, Affordable Finance at Scale, and Scaling Solar Mini-grids – have been launched.
Further, ISA has also been developing a Common Risk Mitigating Mechanism (CRMM) for de-risking and reducing the financial cost of solar projects in the ISA member countries. The instrument will help diversify and pool risks on mutual public resources and unlock significant investments. An international expert group has been working on the blue print of the mechanism and it will be rolled out by December 2018.
The Paris Declaration establishing ISA states that the countries share the collective ambition to undertake innovative and concerted efforts for reducing the cost of finance and cost of technology for immediate deployment solar generation assets. This will help pave the way for future solar generation, storage and good technologies for each prospective member countries’ individual needs, by effectively mobilizing more than US$1000 billion in investments that will be required by 2030.
India has offered to meet ISA Secretariat expenses for initial five years. In addition, the Ministry of External Affairs, Government of India has set aside US$2 billion for solar projects in Africa out of Government of India’s US$10 billion concessional Line of Credit (LOC) for Africa. Government of France has also earmarked Euro 300 million soft loan for solar related projects in ISA member countries.
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