The Union Cabinet today gave its ex-post facto approval to the proposal of Ministry of New & Renewable Energy (MNRE) for ratification of International Solar Alliance’s (ISA) Framework Agreement by India.
ISA was launched jointly by Prime Minister Narendra Modi and French President Francois Hollande on November 30 last year at Paris on the side-lines of the 21st Conference of Parties (CoP) meeting of the United Nations Framework Convention on Climate Change.
The ISA, headquartered in India with an interim secretariat at the National Institute of Solar Energy (NISE) premises in Gurugram, aims bring together more than 121 nations for coordinated research, low cost financing and rapid deployment of solar power.
"The Union Cabinet has given its ex-post facto approval to the proposal for ratification of ISA's Framework Agreement by India," a cabinet communique here said.
"The Agreement invokes the Paris Declaration on ISA and encapsulates the vision of the prospective member nations.
"UNDP and World Bank have already announced their partnership with the ISA. Till now, 25 nations have signed the Framework Agreement," it added.
Earlier this year, French President Francois Hollande laid the foundation stone of the headquarters of ISA at Gurugram.
The ISA is a major international body headquartered in India. India has offered a contribution of around $15 million for creating the ISA corpus fund and has also offered training support for ISA member countries at the NISE.