Why is it in the News?

Malta became the 119th country to join the International Solar Alliance recently.

About the International Solar Alliance (ISA):

• The International Solar Alliance (ISA) is an alliance of more than 120 signatory countries that aims to reduce the dependence on non-renewable sources of energy like fossil fuels.
• Currently, 118 countries are signatories to the ISA Framework Agreement.
• The ISA is an action-oriented, member-driven, collaborative platform for increased deployment of solar energy technologies as a means for bringing energy access, ensuring energy security, and driving energy transition in its member countries.
  • The platform strives to develop and deploy cost-effective and transformational energy solutions powered by the sun to help member countries develop low-carbon growth trajectories, with a particular focus on delivering impact in countries categorised as Least Developed Countries (LDCs) and the Small Island Developing States (SIDS).
• The ISA was conceived as a joint effort by India and France to mobilise efforts against climate change through the deployment of solar energy solutions.
• It was conceptualised on the sidelines of the 21st Conference of Parties (COP21) to the United Nations Framework Convention on Climate Change (UNFCCC) held in Paris in 2015.

Role of India:

• As a founding member, India holds a pivotal position within the alliance, serving both as a host nation and a major contributor to achieving its objectives.
• The ISA marks a historic milestone as the first international organisation to establish its secretariat in India.
• With a target of generating 100 GW of solar energy by 2022, India's commitment represents a significant portion of the ISA's overall goal.

Recent Developments:

• The ISA was granted Observer Status by the UN General Assembly, fostering closer collaboration between the alliance and the United Nations to advance global energy growth and development.
• The approval of the 'Solar Facility' by the ISA introduces a payment guarantee mechanism aimed at incentivizing investments in solar projects, further driving progress towards sustainable energy initiatives.