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Context

President Droupadi Murmu inaugurated the Eighth Session of the International Solar Alliance (ISA) Assembly in New Delhi. 

What is International Solar Alliance (ISA)?

It was jointly established by India and France at COP21 in Paris in 2015.

It is an intergovernmental organization headquartered in Gurugram, Haryana, and is India's first international body of its kind.

Initially, the ISA focused on countries between the Tropics of Cancer and Capricorn. A 2020 amendment expanded membership eligibility to all UN member states.

Currently, 120 countries have signed the agreement, and 104 have ratified it.

Core Objectives and Vision:

• Promoting Solar Energy Deployment: Increasing the use of solar energy for energy access and climate change mitigation.
• Mobilizing Investments: Aiming for $1 trillion in solar investments by 2030 to fund large-scale projects, especially in member countries most in need.
• Reducing Costs: Lowering the cost of solar technology and financing to make solar power more competitive and accessible.
• Achieving Energy Access and Security: Providing energy access to 1 billion people and installing 1,000 GW of solar capacity by 2030, reducing reliance on fossil fuels. 
• Driving Energy Transition: Promoting solar power for carbon neutrality and a cleaner global energy system.
• Sectoral Application: Advocating for solar energy adoption in agriculture, healthcare, transport, and power generation.

Initiatives by The ISA 

Global Solar Facility (GSF)

Launched at COP27 in 2022, the GSF is a payment guarantee fund to de-risk investments in solar projects and attract commercial financing.

STAR-C (Solar Technology Application Resource Centre) Programme

This program builds capacity by training professionals and policymakers, also promotes digitization and AI innovation, aiming for a "Silicon Valley of solar" in the Global South.

Viability Gap Funding (VGF) Scheme

Provides financial grants (10-35% of project cost) for solar projects in Least Developed Countries (LDCs) and Small Island Developing States (SIDS).

One Sun, One World, One Grid (OSOWOG)

Launched by India and the UK at COP26, it seeks to create a transnational renewable electricity grid, targeting 2,600 GW of interconnection by 2050. 

Global Floating Solar Framework

Supports member countries in using water bodies for clean energy, projecting a rise from 10 GW to 77 GW worldwide.

Green Hydrogen Innovation Centre

Advances solar energy R&D, knowledge-sharing, and advocacy in green hydrogen.

Solar for She Initiative

Promotes gender inclusivity by involving more women in solar energy projects.

Multi-nation Joint Bidding Platform

The 8th ISA Assembly will announce the world's first multi-country joint bidding platform for solar-cum-storage power to aggregate demand and reduce costs.

Significance for India

Global Leadership and Soft Power

As co-founder, India strengthens its leadership in climate diplomacy and energy security. The ISA headquarters in Gurugram symbolizes India's commitment to multilateralism.

Accelerating Domestic Energy Transition

India is on track to meet its 2030 renewable energy goals (500 GW non-fossil, 50% renewable), having already achieved 50% non-fossil installed capacity. It ranks 4th globally in renewable energy and 3rd in solar power.

Economic Opportunities and Self-Reliance

ISA's focus stimulates domestic manufacturing, with solar module capacity surging from 2 GW in 2014 to 100 GW, creating jobs and promoting innovation, aligned with "Aatmanirbhar Bharat." (Source : PIB)

Way Forward

Strengthening Financial Architecture

Innovate financial mechanisms, leveraging blended finance, green bonds, and guarantees to attract private investment. The Africa Solar Facility is a good start; similar regional facilities should be explored.

Intensifying Technology Transfer and Localisation

Facilitate advanced solar technology transfer and support local manufacturing. Expand STAR-C's goal of a "Silicon Valley of solar" in the Global South.

Addressing Grid Infrastructure and Storage

Prioritize investments in smart grids, advanced battery storage, floating solar, and regional interconnection.  

Enhancing Capacity Building and Skill Development

Scale up training programs and establish more Centers of Excellence to build a robust skilled workforce.

Promoting Broader Partnerships

Expand collaborations with multilateral development banks, international financial institutions, and other global groupings to streamline efforts and mobilize resources.

Advocating for Supportive Policies

Continue to advocate for clear, consistent, and investor-friendly policy and regulatory frameworks that encourage solar deployment and cross-border energy trade.

Conclusion

The International Solar Alliance can become a leading force in the global energy transition by ensuring that clean, affordable, and sustainable solar energy is universally available.

Source: NEWSONAIR