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The International Solar Alliance (ISA), which aims to mobilise $1 trillion for investment in solar energy by 2030 in 121 tropical countries, is expected to become a legal entity in the next six months.
“The international steering committee has already met twice since the Cop-21 in Paris last year. We are hopeful that the final agreement or statute for the ISA will be signed by June,” said Upendra Tripathy, Secretary, Ministry of New & Renewable Energy.
Prime Minister Narendra Modi and French President Francois Hollande will lay the foundation stone of the headquarters of the ISA and also inaugurate the interim secretariat at National Institute of Solar Energy, Gwal Pahari, Gurgaon, on January 25.
“The main issue is that we have to have a signing ceremony. It can happen by June. After that, we need ratification of 25 countries, thereafter ISA will be there legally,” Tripathy added.
He also said that a corpus of $500 million will be created from contribution from private as well as public sector from different countries.
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