Solar Investment: ISA - The Trillion Dollar Opportunity
ISA as a facilitator and enabler would drive global community including bilateral and multilateral organizations, corporates, industry, and stakeholders to make a positive contribution to the common goals of increased utilization of solar energy in meeting energy needs in a safe, convenient, affordable, equitable and sustainable manner; in the pursuit of sustainable development, energy access, energy security and low-carbon economic growth and prosperity.
The principal objective of the ISA is to unlock the immense potential of solar energy technology in the world. In order to achieve this objective, it will require improved international cooperation, comprehensive project due diligence, and risk mitigation strategies, in order to attract investment in identified bankable projects. It will also require an understanding of the gaps in potential investment opportunities around the globe, and mechanisms for scaling up investment in projects. The ISA is working with numerous bilateral and multilateral organisations, private and public sector investors, and international banking and financial institutions to develop cohesive and comprehensive strategies to mobilise funding for solar energy projects across member countries.
This side event will chiefly focus on the issues of developing and financing solar energy projects and aligning financial flows in order to reach the objectives of the Paris Agreement, the One Planet Summit and the Delhi Agenda. This issue is essential for carrying out credible climate action and implementing the necessary scale-up on the ground to mobilise more than $1000 billion USD investments to finance 1000GW of global solar capacity in ISA member countries by 2030.
This side event aims to achieve very concrete results and bring together ISA Member countries and partners engaged in the development and financing of solar energy projects in order to build and strengthen the mechanisms and initiatives essential for supporting speedily and efficiently solar energy projects and actions on the ground.