ArmInfo. On April 4, at a regular meeting, the Government of Armenia approved the RA draft law "On the ratification of the Framework Agreement "On the International Solar Alliance Fund".
The official ceremony of signing by Armenia the Framework Agreement "On the establishment of an international solar alliance" took place at the RA Ministry of Foreign Affairs on November 16, 2023. It was noted that Armenia's accession to the International Solar Alliance is an important step towards combating climate change, developing renewable and green energy resources, ensuring access to energy and energy security.
The International Solar Alliance was created through the joint efforts of India and France to work together to combat climate change and widespread use of solar energy resources. The concept of the alliance was developed in 2015. The ISA's mission is to develop rules, regulations and standards for solar energy to enable its rapid and massive deployment in countries where solar resources are abundant but where the risks are still considered high. ISA is committed to introducing specific instruments, capacity building measures and innovative financial instruments. One example is the harmonization of government policies, regulations and tariffs between countries, which reduces uncertainty, improves the cost-effectiveness of solar energy projects and maintains investor confidence. The MCA's goal is to facilitate the installation of more than 1,000 GW of additional capacity by 2030, with expected funding of $1,000 billion over the same period.
To date, 118 states have signed the Alliance Framework Agreement, 96 of which have submitted the necessary ratification documents to become full members of the Alliance. The governing body of the alliance is an assembly convened once a year at the level of ministers of the relevant sectors of the member states. The headquarters of the alliance is located in India.
Renewable energy is one of the most important areas of development of the energy system of Armenia. In recent years, solar energy has been developing particularly well. Today, more than 5 percent of all electricity is produced by solar power plants. According to the strategic plan for energy development until 2030, it is planned to increase the share of solar energy in the total volume to 15%.
In order to determine the compliance of the obligations provided for by the agreement with the Constitution of the Republic of Armenia, the Cabinet of Ministers shall apply to the Constitutional Court of the Republic of Armenia.
