The framework agreement of International Solar Alliance (ISA) was opened for signatures here on the sidelines of CoP22 with Environment Minister Anil Madhav Dave saying that with this legal framework in place, the ISA will be a major international body headquartered in India.
Over 20 countries, including Brazil and France, became signatories to it soon after the process began, an Environment Ministry official said.
Indian climate experts termed it as a "good" initiative which will aggregate demand, improve quality and reduce cost of solar energy in developing countries but cautioned that achieving these objectives will require countries to have "confidence" in ISA.
ISA was jointly launched by Prime Minister Narendra Modi and French President Francois Hollande at the CoP21 in Paris last year where representatives from around 70 countries including more than 30 Heads of the States and government participated.
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ISA is an initiative by India where an alliance of 121 solar resource-rich countries lying fully or partially between the tropic of Cancer and tropic of Capricorn, have come together.
During the ceremony, Dave thanked the countries for their continued support for concretising the concept of ISA and reaching today's milestone in the shortest possible time.
"Within 11 months of launch, ISA activities have increased significantly, and many initiatives are under implementation. With legal framework in place ISA will be a major international body headquartered in India," he said while thanking the French government.
The Framework provides for membership open to the
countries between tropics (fully or partially) who are also UN members and the ISA structure will consist of two tiers in the form of an Assembly and Secretariat.
"An important aspect is striving to keep about the operating costs minimal and therefore not necessitate mandatory contributions," the official statement said.
India has already offered a contribution of Rs 175 crore (around USD 27 million) for creating ISA corpus fund and for meeting the cost of ISA secretariat which is coming up in New Delhi for the initial five years.
"This is a good initiative to aggregate demand, improve quality and reduce the cost of solar energy in developing countries. However, achieving these objectives will require confidence in ISA," said Chandra Bhushan, Deputy director general Centre for Science and Environment.
ISA will contribute towards the common goal of increasing utilisation and promotion of solar energy and solar applications in its member countries.
The Paris declaration on ISA states that the countries share the collective ambition to undertake innovative and concerted efforts for reducing the cost of finance and cost of technology for immediate deployment of competitive solar generation.
Financial instruments to mobilise more than USD 1,000 billion of investments needed by 2030 will ultimately pave the way for future solar generation, storage and good technologies for countries' individual needs, the statement said.