Solar projects worth nearly US$ 1.4 billion in 15 countries were announced at the recent Founding Conference of the International Solar Alliance under Government of India’s concessional financing. An Indian Line of Credit for US $ 100 million was announced for undertaking solar projects in Sri Lanka, which includes development of 200, 000 rooftop solar units for low income families (for US$ 50 million) and setting up of rooftop solar in Government schools and colleges, hospitals and other Government establishments in Sri Lanka (for US $ 50 million).
ISA has been described by Prime Minister of India as the single most important global achievement after the Paris Accord on Climate Change. The first General Assembly of the ISA is expected to be held on the sidelines of the second edition of the Renewable Energy Global Investors Meet and Expo, in short REINVEST to be organized by the Ministry of New and Renewable Energy of India in April 2018.
India has offered to meet ISA Secretariat expenses for initial five years. The Government of India has allotted five acres of land to ISA, a nice campus in Gurugram, Haryana and released a sum of US$ 20 million for creating a corpus fund, building infrastructure and meeting day to day recurring expenditure.
The ISA is conceived as a coalition of 121 solar resource rich countries (lying fully or partially between the Tropics of Cancer and Capricorn) to address their energy needs, through a common platform for collaboration, for achieving speed, scale and skills for deploying available solar technologies; facilitating strategic and collaborative solar R&D; and lowering the cost of finance for solar projects and capacity building.
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