India Welcomed Malta to Join International Solar Alliance

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