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Antigua, Barbuda joins International Solar alliance

  • Posted By
    10Pointer
  • Categories
    World Affairs
  • Published
    7th Jan, 2022

Context

Antigua and Barbuda recently joined the International Solar Alliance (ISA) as a 102nd member.

About International Solar Alliance (ISA)

  • ISA is an alliance of more than 120 countries, most of them being sunshine countries, which come either completely or partly between the Tropic of Cancer and the Tropic of Capricorn.

  • The primary objective is to collectively work for efficient exploitation of solar energy to reduce dependence on fossil based fuels.
  • This initiative was proposed by our Prime Minister of India first during his speech at Wembley Stadium, London.
  • This initiative was launched at the India Africa Summit and a meeting was held among them before the conclave of 2015 United Nations Climate Change Conference in Paris in November 2015.
  • This is a treaty-based intergovernmental organization. The alliance will take the shape of an international treaty once its rules are worked out.
  • The Headquarters is in India with its Interim Secretariat being set up in Gurgaon.
  • The agreement will become operational after at least 15 countries have ratified it.
  • The framework agreement says that the members of ISA would take coordinated actions through programmes and activities that will aggregate the demands for solar finance, solar technologies, innovation, research and development, and capacity building.
  • The ISA aims to develop cost-efficient solar technologies and applications.
  • It is also expected to mobilise $1 trillion for funding solar energy projects by 2030.

Why is this important for the small island developing states (SIDS)?

  • Antigua & Barbuda is one of the small island developing states (SIDS) in the Caribbean.
  • The nation is vulnerable to climate change and its electricity generation is totally from fossil fuels.
  • Electricity production and transportation, petroleum is used extensively. And with this agreement in place, the country would have access to not only funding but also new renewable energy technologies.
  • India is working with the government of Antigua and Barbuda towards finalizing proposals to avail USD 10 million line of credit assistance in the solar energy sector.