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Merge 104.8 | 26 July 2020
Oman has joined a framework agreement to establish an International Solar Alliance (ISA), a treaty-based organization launched by Indian Prime Minister Narendra Modi in 2015.
His Majesty Sultan Haitham bin Tarik signed a Royal Decree on July 23, 2020 announcing the Sultanate’s participation in the inter-governmental organization.
The ISA aims to mobilize USD $1 trillion in funds for future solar generation, storage, and technology across the world. It has more than 60 signatories, with 30 of those countries having ratified the agreement.
According to Reuters, ISA aims to promote solar energy in 121 countries.
The organization’s main goal is to lower the cost of finance and spur investment across the supply chain, including manufacturing, project development, and storage, Upendra Tripathy, Director General of ISA, told Reuters on Friday.
