Moldova has officially joined the International Solar Alliance (ISA), signaling its commitment to renewable energy and sustainability. The ISA Framework Agreement was signed in New Delhi by India’s External Affairs Minister S. Jaishankar and Moldovan Deputy Prime Minister Mihai Popșoi. Moldova’s inclusion comes after Armenia became the 104th full member last month, marking the continued global expansion of the ISA. Headquartered in India, ISA unites countries to overcome challenges in solar energy financing, technology, and scalability, aiming to mobilize over USD 1,000 billion in investments by 2030.
What is the International Solar Alliance (ISA)?
The ISA is an inter-governmental treaty-based organization founded during COP21 in Paris in 2015 by Indian PM Narendra Modi and French President François Hollande. It promotes solar energy adoption globally by addressing barriers like technology costs and financing. The ISA Framework Agreement became operational in December 2017, making it the first inter-governmental body headquartered in India. Membership has expanded to 120 signatories, with 100 full members.
Objectives and Vision
- Mobilize over USD 1,000 billion for solar energy projects by 2030.
- Reduce financing costs and promote innovative financial mechanisms.
- Scale up solar technologies in member nations.
- Facilitate collaborative R&D and provide technical training for member countries.
Key Initiatives and India’s Role
India, as a key player, has solarized government buildings and healthcare facilities globally, showcasing leadership in renewable energy. Notable ISA projects include:
- Solarizing Malawi’s Parliamentary building.
- Establishing solar-powered cold storage in Seychelles.
- Offering technical training to build capacity among member nations.
Recent Membership Growth
Moldova’s membership highlights the ISA’s growing influence and international commitment to sustainable energy. It reflects increasing global acknowledgment of solar energy as a critical tool for achieving the Sustainable Development Goals (SDGs) and addressing climate challenges outlined in the Paris Agreement.
Impact and Outlook
By uniting solar-resource-rich nations, ISA helps reduce reliance on non-renewable energy, create transformative energy solutions for LDCs and SIDS, and position solar energy as central to global energy transitions. With Moldova now on board, the ISA’s vision for a solar-powered future gains further momentum.
Summary of the news
| Why in News | Key Points |
|---|---|
| Moldova joins the International Solar Alliance (ISA) | – Signed the ISA Framework Agreement in New Delhi on December 6, 2023. |
| – Formalized by India’s External Affairs Minister S. Jaishankar and Moldovan Deputy PM Mihai Popșoi. | |
| – Reflects Moldova’s commitment to renewable energy. | |
| – Followed by Armenia’s inclusion as the 104th full member of ISA in November 2023. | |
| – ISA mobilizes over USD 1,000 billion for solar energy by 2030. | |
| International Solar Alliance (ISA) | – Founded in 2015 by India and France. |
| – Headquartered in India. | |
| – 120 countries signed the ISA Framework Agreement, 100 full members. | |
| – Aims to scale up solar technologies and finance solar projects globally. | |
| – Focuses on addressing barriers in financing and technology for solar energy. | |
| – Became the first international inter-governmental organization headquartered in India after 15 countries ratified the Framework Agreement in 2017. | |
| Moldova | – Capital: Chișinău |
| – Currency: Moldovan Leu (MDL) | |
| Key Objectives of ISA | – Mobilize USD 1,000 billion investments for solar energy by 2030. |
| – Reduce the cost of solar technology and financing for member countries. | |
| – Promote collaborative research and development in solar energy. | |
| – Encourage large-scale deployment of solar energy in developing countries. | |
| ISA’s Notable Projects | – Solarizing Malawi’s Parliament building and Seychelles’ cold storage. |
| – Solar-powered projects to enhance energy access in Small Island Developing States (SIDS) and Least Developed Countries (LDCs). |
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