The countries have decided to jointly work towards mobilizing finance for the development of “affordable solar energy” on a global scale
The India-led International Solar Alliance (ISA) and the European Union (EU) have signed a joint declaration for cooperation on solar energy.
The declaration was inked on Tuesday at the 24th conference of United Nations Framework Convention on Climate Change, held in Katowice, Poland.
A joint initiative of India and France, the alliance was launched by Prime Minister Narendra Modi and the French president on November 30, 2015, in Paris, to drive 121 member countries to increase their solar power utilization.
The joint declaration aims to develop synergies between EU and ISA programs and projects supporting access to electricity, clean energy transition, and the integration of renewable energy electricity.
Terms of the Agreement
The agreement states that the countries will jointly work towards mobilizing finance for the development of “affordable solar energy” on a global scale.
The aim of ISA is to mobilize $1 trillion to generate 1,000 gigawatt of solar energy by 2030.
The agreement also states that EU will share its knowledge and projects in the solar energy sector with the ISA member countries. Another agenda is to facilitate research and innovation in the area of solar electricity and the integration of distributed renewables.
Miguel Arias Cañete, European Commissioner for Energy and Climate Action, hopes that joining efforts with the ISA will reinforce the EU’s position as a global leader in the clean energy transition.
The countries have also agreed to cooperate on a two-year rolling programme as well as holding annual meetings with senior officials.