The High Commissioner for Sri Lanka in India, Chitranganee Wagiswara signed the Framework Agreement of the International Solar Alliance (ISA) at the Ministry of External Affairs of India in New Delhi.
The signed documents were handed over to Mr. Nagaraj Naidu, Joint Secretary (Investments, Technology Promotion and Energy Security Division) of the Ministry of External Affairs of India.
Once the Agreement is ratified, Sri Lanka will become a founding member of the International Solar Alliance, the Foreign Ministry said today.
With a view to spearheading the UN General Assembly Resolution A/RES/36/193 in 1981 which underlined the need for cooperation among developing countries and mobilization of financial resources for new and renewable resources of energy and subsequent to the 2002 UN World Summit on Sustainable Development, many advocacy organisations were set up, primarily to disseminate knowledge on Renewable Energy, making it a priority area in the future agenda of all the countries.
The Paris Declaration on the International Solar Alliance of 30th November 2015 stressed on the shared ambition to undertake joint efforts required to reduce the cost of finance and the cost of technology and to mobilize more than USD $ 1000 billion investments required by 2030 for massive deployment of solar energy and pave the way for future technologies as well.
In this context, the ISA was conceived as a coalition of solar resource rich countries to address their special energy needs and to provide a platform to collaborate on addressing and identifying issues through an agreed common approach.
The ISA will provide solar resources rich countries, lying fully or partially between the tropics of Cancer and Capricorn, with an unprecedented opportunity to bring prosperity, energy security and sustainable development to the people.
The objective of the ISA is to cooperate closely with its members and strive towards establishing mutual beneficial relationships with relevant organizations, public and private stakeholders, and with non-member countries. (Colombo Gazette)