Which international initiative aims to mobilise solar energy investments of $1,000 billion by 2030?

The correct answer is International Solar Alliance (ISA).

Key Points

• The International Solar Alliance (ISA) aims to mobilize $1,000 billion in investments for solar energy by 2030.
• ISA was launched on November 30, 2015, by the Prime Minister of India, Narendra Modi, and the former President of France, François Hollande, at the COP21 climate conference in Paris.
• The alliance focuses on promoting solar energy and reducing the cost of solar power generation through cooperative efforts.
• ISA's goal is to help countries harness solar energy more effectively to ensure energy security and to promote sustainable energy access.

Additional Information

• ISA Membership
  • Open to 121 prospective member countries situated between the Tropic of Cancer and the Tropic of Capricorn.
  • As of October 2021, ISA has 98 signatory countries, with 80 of them having ratified the ISA Framework Agreement.
• Focus Areas
  • Promoting solar technologies and investment in the solar sector.
  • Developing innovative financial mechanisms to reduce the cost of capital for solar projects.
  • Encouraging capacity building and R&D in solar energy technologies.
• ISA Programs
  • Scaling Solar Applications for Agriculture Use (SSAAU).
  • Affordable Finance at Scale.
  • Scaling Solar Mini-Grids.
  • Scaling Solar Rooftop Projects.
• Global Impact
  • ISA aims to mitigate climate change by reducing carbon emissions through increased use of solar energy.
  • It seeks to ensure energy security and promote sustainable development, particularly in developing countries.