India Welcomed Malta to Join International Solar Alliance

Utkarsh Classes Last Updated 21-02-2024

India Welcomed Malta to Join International Solar Alliance

Alliance 4 min read

According to the Ministry of External Affairs, a European Country, Malta, became the 119th Country to join the International Solar Alliance. India welcomed Malta for joining ISA.

About Malta

Malta is an island-state located in the Mediterranean Sea, to the south of Sicily (Italy). It consists of three islands: Comino, Gozo and Malta, Malta is the largest island. The country became a member of the European Union in May 2004.
Great Britain took possession of Malta in the early 19th century. Malta became a republic in 1974. Over the past 15 years, the island has emerged as a major freight transshipment point, a financial center, and a popular tourist destination.
The capital city of Malta is Valletta. The languages spoken in the country are Maltese and English.

About ISA

On November 30, 2015 during the COP-21 of the United Nations Climate Change Conference of the Parties in Paris the International Solar Alliance (ISA) was announced by PM Modi and former French President Hollande.
This initiative was launched in support of India's proposal to create a common platform for cooperation among solar resource-rich countries located between the Tropics of Cancer and Capricorn.
Although India had launched its Solar Mission in 2010, the ISA was officially initiated only in 2015 with the Paris Declaration.
More than 89 countries have signed the ISA Framework Agreement, and 72 have ratified it.
Among those that have ratified the agreement are Australia, Bangladesh, Cuba, France, Ghana, India, Papua New Guinea, Sudan, Sri Lanka, Togo, the United Arab Emirates, and Venezuela.
The ISA was recognized as a multilateral treaty by the UN, which came into force on December 6, 2020.
The ISA recognizes the challenge of acting in a coordinated manner to address financing requirements, technology transfer, and capacity building to ensure affordable solar energy for all.
The ISA aims to deploy 1000 GW of solar capacity by 2030. However, achieving this goal will require an estimated investment of US$1 trillion by 2030.
To finance the objectives of the Alliance, President Macron announced a provision of €700 million.
India has also allocated nearly US$2 billion for funding solar projects through its Africa Fund for Development. Several projects have already been cleared or are in the pipeline on the continent.
Overall, the vision of the ISA is exemplary, but it will require significant effort to bring clean and affordable energy to all.
Headquarter: Gurgaon
Director General: Dr Ajay Mathur