Moldova has officially joined the International Solar Alliance (ISA), marking a significant step in its commitment to renewable energy and sustainability. The announcement was made on December 16, 2024, by India's Ministry of External Affairs spokesperson, Randhir Jaiswal, during a signing ceremony in New Delhi. The agreement was signed by India's External Affairs Minister S. Jaishankar and Moldova's Deputy Prime Minister Mihai Popsoi.
The ISA aims to mobilize over $1 trillion in investments for solar energy projects by 2030. Moldova's membership is expected to help attract investments in renewable energy production and innovative solar technologies.
Moldova has set an ambitious goal to increase the share of electricity generated from renewable sources from 10% to 30% by 2030. This aligns with its broader strategy to enhance energy independence and sustainability.
The signing of the ISA agreement follows a declaration of intent on Migration and Mobility between India and Moldova, highlighting the growing cooperation in various sectors including investment, education, technology, and culture.
The ISA was established in 2015 by India and France to promote solar energy deployment globally. It currently includes numerous member countries committed to expanding solar energy production and addressing challenges related to technology and financing in this sector. Moldova's accession brings the total number of member countries closer to 100, reinforcing a global commitment to clean energy initiatives.
This move is part of Moldova's broader strategy to transition towards greener energy sources, especially following shifts in its energy landscape due to geopolitical events such as the conflict in Ukraine. The country is actively seeking external financing and partnerships to bolster its renewable energy infrastructure, with significant support from international entities like the European Bank for Reconstruction and Development (EBRD) and USAID.
