Myanmar joined the India-initiated International Solar Alliance (ISA), becoming the 68th member of the grouping that is aiming at the optimum utilization of solar energy.
Myanmar Minister for International Cooperation Kyaw Tin handed over the ISA Framework Agreement to External Affairs Minister Sushma Swaraj during a bilateral meeting here on the margins of this year’s Delhi Dialogue, the premier annual track 1.5 event to discuss politico-security, economic and socio-cultural engagement between India and the Association of Southeast Asian Nations (ASEAN) bloc.
The Paris Declaration establishes ISA as an alliance dedicated to the promotion of solar energy among its member countries.
The ISA’s major objectives include global deployment of over 1,000GW of solar generation capacity and mobilization of investment of over US$ 1000 billion into solar energy by 2030.
As an action-oriented organization, the ISA brings together countries with rich solar potential to aggregate global demand, thereby reducing prices through bulk purchase, facilitating the deployment of existing solar technologies at scale, and promoting collaborative solar R&D and capacity building.
When the ISA Framework Agreement entered into force on December 6th, 2017, ISA formally became a de-jure treaty-based International Intergovernmental Organization, headquartered at Gurugram, India.
The ISA is not only expected to spur innovation in the RE space but also help make India a technological hub with independent manufacturing capabilities of RE equipment like solar panels, rather than being dependent on imports, through initiatives like ‘Make in India’. India’s Ministry of External Affairs is expected to play a role in “marrying Indian tech and finance capabilities with specific projects around the world”.
India announced a goal of obtaining 40% of its electricity from non-fossil fuels by 2030 at the Paris climate change summit. It is close to achieving 20 GW grid-connected solar power generation capacity this fiscal year (2018), in pursuit of achieving its target of 100 GW by 2022.