The summit celebrates the birth of ISA. It aims to bring together member countries with a strong partnership to mobilise more than $1,000 billion by 2030. Essentially, ISA will generate a global solar market of a trillion dollars.
This apart, ISA Summit will generate political support for the solar roadmaps of member countries in areas of demand aggregation, innovation, standards, quality control, R& D and capacity building.
Is there any target or estimate on the MoU/investment expected during the summit?
There is no such target, although under Article III of the ISA Framework Agreement, 5 programmes will include simple, measurable, mobilising targets. For example, currently we have a target of solarising 500,000 diesel irrigation pump sets. Similarly, ISA in consultation with member countries, will develop a financial roadmap for credit mobililisation in each member country.
Has there been any line up for the Funding institution ISA aims to set up?
ISA does not plan to set up any funding institution. ISA is not a bank. However, ISA has entered into financial partnerships with the World Bank, European Investment Bank (EIB), and The European Bank for Reconstruction and Development (EBRD), which have resolved to work in tandem with International Solar Alliance for massive and affordable deployment of solar energy. In addition to this, African Development Bank (AfDB), Asian Infrastructure Investment Bank (AIIB), New Development Bank (NDB) and The Green Climate Fund (GCF) are also signing a joint declaration with ISA for funding solar energy-related projects. The philosophy is to work together to make the Sun brighter.
What kind of investment is expected from member countries/global agencies?
ISA Framework Agreement sets up a target of mobilising over $1000 billion of investment needed by 2030 for massive deployment of solar energy and for paving the way for future technologies adapted to the needs of ISA member countries.
Will the Summit aim to set up new agencies for facilitating projects, investments and monitoring the progress in the solar sector?
The Summit does not aim at setting up new agencies for facilitating projects. In order to facilitate project formulation and promote investment, ISA plans to take several measures such as, institutionalization of ISA fellowships; cross country training of solar mechanics; conducting outreach activities; launching of Solar Technology and Application Research Centre (STAR-C). ISA has also constituted a Constitution of an International Committee of Chambers of Industry and Business (ICCIB) with Ficci
being the convener.