Moldova Joins International Solar Alliance from Vajirao & Reddy Institute

MOLDOVA JOINS INTERNATIONAL SOLAR ALLIANCE

• Moldova's Membership: Moldova has joined the International Solar Alliance (ISA) by signing the ISA Framework Agreemen
• The agreement was signed between India's Minister of External Affairs, S. Jaishankar, and Moldovan Deputy Prime Minister, Mihai Popsoi, in New Delhi.
• Armenia's Recent Membership: Just a month earlier, Armenia became the 104th full member of the ISA.

OVERVIEW ABOUT INTERNATIONAL SOLAR ALLIANCE

• Formation and Purpose: The ISA is an intergovernmental treaty-based organization that aims to promote solar energy.
• It seeks to reduce the cost of financing and technology for solar projects and to help solar-rich countries transition to clean energy sources.
• Launch: The ISA was jointly launched by Prime Minister Narendra Modi and French President François Hollande on November 30, 2015, in Paris during the 21st Conference of Parties (COP21) to the UNFCCC.
• Framework Agreement Signing: The ISA Framework Agreement was opened for signatures on November 15, 2016, in Marrakech, Morocco, during COP22.
• On December 6, 2017, the agreement was ratified by 15 countries, marking the establishment of ISA as the first international intergovernmental organization headquartered in India.
• Founding Conference: On March 11, 2018, Prime Minister Modi and President Emmanuel Macron co-hosted the founding conference of ISA.

MEMBERSHIP & CRITERIA

• Eligibility: Membership is open to solar resource-rich countries located fully or partially between the Tropic of Cancer and the Tropic of Capricorn, and must be members of the United Nations.
• Current Membership: As of now, the ISA has 120 signatory countries, with more than 100 countries becoming full members after ratifying the framework agreement.

MISSION & VISION OF ISA

• Mission: ISA aims to provide a dedicated platform for cooperation among solar-resource-rich countries.
• This platform enables governments, multilateral organizations, corporates, and civil society to work together to increase solar energy use, addressing energy needs in a sustainable, equitable, and affordable manner.
• Global Relevance: The ISA is considered key to achieving the 2030 Sustainable Development Goals and the Paris Agreement on Climate Change.

Partnerships and Collaborations

• ISA collaborates with multilateral development banks (MDBs), development financial institutions (DFIs), and private and public sector organizations to drive solar energy solutions, particularly in Least Developed Countries (LDCs) and Small Island Developing States (SIDS).

KEY OBJECTIVES

• Overcoming Barriers to Solar Energy: Address the challenges hindering the rapid expansion of solar energy.
• Reducing Costs: Innovate in reducing both the cost of financing and technology to make solar energy more competitive.
• Mobilizing Investments: Aim to mobilize over $1,000 billion in investments by 2030 for solar projects.
• Increasing Solar Applications: Scale up the use of solar technology across ISA member countries.
• Research and Development: Facilitate collaborative R&D on solar technologies among member nations.
• Networking Platform: Promote a cyber platform for collaboration and exchange of ideas.

ASSEMBLY OF ISA

• Function and Role: The Assembly of the ISA is the apex decision-making body, which reviews critical matters such as:
  • Approval of the ISA’s objectives and operational budget.
  • Evaluation of the implementation of its various initiatives and programs.
• First Assembly: The First Assembly of the ISA, held on October 3, 2018, amended the Framework Agreement to allow all UN member states to join the ISA.
• Annual Meetings: The Assembly meets annually at the ministerial level at the ISA's headquarters in India.

IMPORTANCE OF MOLDOVA’S MEMBERSHIP

• Moldova’s inclusion in ISA signifies the growing global commitment to sustainable and clean energy.
• By joining ISA, Moldova will benefit from collaborative efforts to reduce the costs of solar technology and financing, while contributing to the overall goal of increasing solar energy deployment worldwide.

These developments highlight the expanding reach and importance of the ISA as an international platform driving the global shift toward solar energy and clean, sustainable power solutions.   Note: Connect with Vajirao & Reddy Institute to keep yourself updated with latest UPSC Current Affairs in English. Note: We upload Current Affairs Except Sunday.