The Solar Alliance has been ratified by a sufficient number of countries to be operational and will formally become a legal entity on December 6 this year.
Promote the growth of photovoltaic technology in all developing countries, located between the Tropic of Cancer and Capricorn. This is the ambitious goal set by the International Solar Alliance (ISA) created in 2015 by India. After two years of promotion and agreements, the new intergovernmental body is ready to finally start: the ASI has been ratified by a sufficient number of countries to be operational and will formally become a legal entity on December 6 of this year. As Anand Kumar, secretary of the Indian Ministry of Renewable Energy, explains, the alliance “ intends to install 1,000 GW of solar electricity in its member states by 2030“. This will be one of the largest global efforts to move from fossil fuels to cleaner energy sources.
The ISA was presented at COP 21 in Paris in 2015 by Indian Prime Minister Narendra Modi and then-French President François Hollande. Today it has 44 countries, 16 of which have already ratified the Framework Agreement, most of which are African, Latin American and Pacific countries. But above all, however, it has the support of a great partner, France, which has not only put the project in the spotlight of the United Nations climate summit, but can also draw the attention of the largest economies. developed on the initiative.
At the heart of the International Solar Alliance is, beyond the 1000 GW target, the desire to promote and make photovoltaic technology accessible in all developing countries in the tropical zone, where irradiation conditions are more favorable.
But the less clear aspect of the project is how to obtain the necessary financial resources: reaching the goal would require an investment of more than 1.2 billion dollars. Since its launch, there has been a vague discussion of “innovative” financial mechanisms, without going into more detail. The government of India plans to invest up to $21 million in the project between 2016 and 2021, and is confident that development banks and other financial institutions can help by supporting solar projects through ad hoc financing.