India (Commonwealth) _The International Solar Alliance (ISA) is made up of 116 countries that are aiming to harness solar power in order to increase renewable energy consumption and minimize dependency on fossil fuels.
According to the group’s director general, an alliance of governments pushing for additional solar power throughout the world is due to reveal about $35 million for projects such as mini-grids and rooftop installations, mostly in Africa.
On the fringes of the International Solar Alliance’s annual conference in New Delhi on Tuesday, Ajay Mathur stated that the group anticipates a $25 million investment from the Indian government, in addition to its own cash infusion of $10 million for smaller solar generating projects.
At the gathering, officials from 116 countries are debating how to use solar power to increase renewable energy consumption and reduce dependency on climate-warming fossil fuels. The ISA’s members include the United States, France, Germany, the United Kingdom, and more than 30 African nations. China, the world’s largest solar energy market, is not yet a member of the alliance.
R. K. Singh, India’s electricity minister and ISA president, stated that the alliance’s finance mechanism, known as the Global Solar Facility, aims to gather $100 million to aid in the deployment of solar projects throughout the world.
According to Singh, Africa “has not been able to leverage its potential” in terms of solar energy due to a lack of investment thus far. Singh stated that the alliance’s goal is to connect the 733 million people globally who do not have access to energy to renewables. Then, during a news conference, he stated, “we are certain that investments will start flowing into Africa.”
He went on to say that exponentially growing renewable energy generation would be a major topic of debate at the forthcoming United Nations climate summit, which will begin in Dubai in a month.
France’s junior minister for development and international partnerships, Chrysoula Zacharopoulou, stated that the government “will support all commitments, particularly financial, to accelerate the global energy transition.” The International Solar Alliance, which was founded during the 2015 climate talks in Paris, is co-led by India and France.
According to an ISA research published last year, global investment in solar energy will exceed $300 billion by 2022, but just 15% of it would go to underdeveloped nations. Clean energy investments in Sub-Saharan Africa fell 44% between 2015 and 2021.
The ISA stated that it has assisted in the development of one gigatonne of solar energy in the previous six years and is striving to assist in the installation of 9.5 gigatonnes of solar energy in 55 nations in the Global South, enough to power up to six million households in developing countries.
The International Solar Alliance (ISA) is an action-oriented, member-driven, collaborative platform promoting enhanced deployment of solar energy technology in its member nations as a method of increasing energy access, guaranteeing energy security, and accelerating energy transition. Currently, 116 nations have signed the ISA Framework Agreement, with 94 countries having filed the requisite ratification papers to become full members of the ISA.
The ISA aspires to develop and implement cost-effective and transformative solar energy technologies to assist member nations in developing low-carbon growth paths.
The ISA is governed by its ‘Towards 1000’ strategy, which aspires to mobilize USD 1,000 billion in investments in solar energy solutions by 2030, while providing clean energy access to 1,000 million people and resulting in the installation of 1,000 GW of solar energy capacity. This would assist to reduce worldwide solar emissions by 1,000 million tons of CO2 each year. The ISA was created as a collaborative initiative by India and France to organize climate change efforts through the deployment of solar energy technologies.
