A network group of 121 countries is striving to accelerate the adoption of solar energy technologies in developing countries.
The International Solar Alliance (ISA), headquartered in India, was initially launched at the 2015 UN Climate Change Conference (COP) in Paris. And this week it attained the status of an international organization.
“I welcome the achievement by the International Solar Alliance of status as an international organization. The framework agreement defining its statutes has been signed by 46 countries and ratified by 19 of them. This progress is in line with the efforts to combat climate change, which will be central to the One Planet Summit on December 12 in Paris,” said Jean-Yves Le Drian, Minister for Europe and Foreign Affairs.
The Alliance plans to help trigger US$1,000 billion investment to deliver 1,000 Gigawatt of solar energy by 2030.
And in October European Investment Bank (EIB) confirmed it will be working with the Alliance to generate greater investment in solar power. The EIB also pledged €800 million to support India’s renewable energy goals, to increase the country’s share of clean power to 40% by 2030, up from 15% today.