Thursday, April 4 2024 13:49

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.