The International Solar Alliance (ISA), headquartered in India, is a treaty-based multilateral platform comprising over 120 member countries dedicated to promoting the adoption of solar energy. In an exclusive interview with Renewable Watch (a sister concern of REGlobal), Ashish Khanna, Director General, ISA, discusses the institution’s approach to addressing the diverse needs of its member countries, its initiatives to scale up solar financing and procurement, the role of emerging technologies, and its broader vision for energy transition and thought leadership. Excerpts…
The ISA’s membership spans continents, covering countries at different stages of solar development. How does the organisation tailor its approach to align with such a diverse group, and how does it balance its priorities?
Given the heterogeneity of our member base, we categorise countries into blocks based on their level of solar ecosystem development. Some countries, such as India, Australia, and many in Europe and North America, fall into the “achievers” category, which is characterised by robust policy frameworks, regulatory stability, a strong financial architecture and established competitive bidding processes.
Others are in the aspirant phase, comprising many lower-income countries working towards expanding their solar footprint. A distinct group includes the Small Island Developing States (SIDS), where over 80 per cent of electricity is still generated from fossil fuels. In some cases, countries are spending 7-13 per cent of their GDP on diesel-based generation, which is a stark contrast to solar-plus-storage solutions that can deliver power at a third of the cost, or even less.
To address these gaps, the ISA has developed region-specific and group-specific platforms. One example is the SIDS Platform, a joint procurement initiative in which 16 countries across the Caribbean, Pacific, Asia and Africa have come together under the ISA platform to collectively procure solar solutions. For Africa, we recognise the importance of distributed renewable energy and are accordingly customising our platforms, particularly in financing and technical assistance. Although we do not intend to be a bank, we are setting up the Africa Solar Facility, a $200 million blended finance and risk mitigation instrument designed to catalyse private sector investment in distributed solar. The first tranche of $74 million will be operational within a month, supported by the ISA, the Government of India, Sustainable Energy for All, the Nigeria Sovereign Investment Authority and the World Bank. This facility will directly address the financing barriers that have historically constrained Africa’s solar growth.
Although we do not intend to be a bank, we are setting up the Africa Solar Facility, a $200 million blended finance and risk mitigation instrument designed to catalyse private sector investment in distributed solar.
There is an ongoing debate on global climate finance, especially in the context of COP commitments. Do the climate finance commitments translate into real flows for solar projects in ISA member countries?
The reality is nuanced, and the financing trends speak for themselves. Of the $2 trillion global renewable energy investments over the past decade, nearly 75 per cent have gone to the developed world, China and India. The rest of the developing world has received relatively limited flows.
The underlying issue is the lack of an enabling environment. Countries that attract investment do so not just because of capital availability, but also because of robust macroeconomic conditions, sectoral regulations and the bankability of power projects. This is where the ISA focuses its interventions, helping member countries establish stable policy and regulatory frameworks, and develop credible, bankable power purchase agreements (PPAs).
For a country joining the ISA, what are the common policy weaknesses that hinder solar deployment? What support does the ISA provide in such cases?
This is a fundamental question. One might ask why countries should join the ISA if we are not a lending institution. The answer lies in our value proposition. Over the past year, the ISA has refined its vision and strategy after consultations. I have personally met 50 energy ministers and over 100 private sector leaders and heads of multilateral institutions to build alignment on the ISA’s role.
First, we aim to complement institutions such as the World Bank, the Asian Development Bank, the African Development Bank and the International Renewable Energy Agency by offering catalytic finance solutions, institutional capacity building, demand aggregation and policy advisory services. Our approach begins with enabling blended finance mechanisms. The Africa Solar Facility serves as a case in point. This facility is being managed by Africa50, an African-owned infrastructure platform co-owned by 33 countries and institutions.
Second, we address institutional capacity. Many low-income countries lack trained regulators and procurement specialists to run competitive tenders. In India, we have a vibrant ecosystem, but this is not the case elsewhere. To bridge this, we have operationalised 11 solar technology application resource centres across member countries while six are in the making. These centres are now being linked digitally to a central hub in India, leveraging India’s strength in digital services to provide advisory and twinning solutions.
Third, we have created aggregation platforms such as the SIDS joint procurement platform, implemented the One Sun, One World, One Grid initiative and adopted country-specific partnership strategies.
Fourth, we focus on thought leadership for the Global South by analysing how new technologies, such as green hydrogen and e-mobility, can be made viable in developing economies. Common policy deficiencies include the absence of clear solar targets and transparent tariff-setting methodologies as well as weak regulatory mechanisms that prevent the formation of bankable PPAs. Once countries address these three aspects – targets, tariffs and contracts – they can attract private capital.
We have created aggregation platforms such as the SIDS joint procurement platform, implemented the One Sun, One World, One Grid initiative and adopted country-specific partnership strategies.
India is seen as a leader in solar deployment. However, are there lessons that India can learn from the member countries?
Nigeria has an incredibly vibrant mini-grids market, and is planning to expand from 500 mini-grids to 10,000 mini-grids. This will be accomplished entirely by the private sector, without government intervention. This is based on a results-based financing model, which means that money is released only once the private sector has successfully completed the project and provided energy access. This model offers valuable lessons for far-flung and underserved regions in India and elsewhere.
What role do emerging technologies such as green hydrogen, floating solar and agri-PV play in the ISA’s agenda?
As a treaty-based multilateral organisation, the ISA has a unique convening power. We are using this to bring countries together on three strategic issues. First is the harmonisation of technical standards. Last week, we convened stakeholders in the assembly to work towards a unified taxonomy for solar PV modules, inverters and battery systems. This is essential for reducing fragmentation and facilitating cross-border trade.
Second is circularity. Several member countries have asked us how to build solar and storage procurement frameworks today that can avoid end-of-life waste challenges 10-20 years from now. There is no global consensus yet on how to measure, model and manage solar and battery waste. To address this, the ISA has launched a community of practice at the ISA Assembly with 125 countries, called SUNRISE (Solar Upcycling Network for Recycling, Innovation, and Stakeholder Engagement), reflecting a new sunrise after the sunset of the completion of a solar PV plant and battery’s life cycle. SUNRISE aims to build consensus on shared standards, financing and business models.
Third, we are focusing on knowledge dissemination. The assembly also witnessed the launch of five ISA knowledge products – Ease of Doing Solar 2025, Solar PV Skills and Jobs in Africa, Solar Compass: Special Issue on Integrated Photovoltaics, Global Floating Solar Framework, and Global Solar Trends & Outlook 2025. These reports highlight the key trends shaping the global solar landscape. Our goal is to help countries understand the business models and policy frameworks required to unlock their knowledge potential.
What is your broader vision for the ISA’s role in the coming years?
We are at a unique inflection point. Solar, batteries and related technologies are no longer niche, given they are now the least-cost generation option for most countries.
The Global South will be central to the next wave of solar leadership, as the world has doubled solar generation capacity from 1,000 GW to 2,000 GW in just two years, with expectations of doubling to 4,600 GW by 2030. Asia is expected to account for more than 70 per cent of this expansion. This is not just for climate reasons, but because the economics is driving the expansion of solar, storage and transmission. Hence, the ISA’s role is threefold. First, to ensure that solar and related technologies drive energy access, transition and affordability. Second, to serve as an aggregator and convener by combining country demand and de-risking mechanisms to leverage private capital. Third, to build long-term institutional capacity in member countries.
Success for us will mean that in 5-10 years, countries that have partnered with the ISA are independently managing their solar ecosystems through their own centres of excellence. That would signify that we have helped build a sustainable and self-sufficient infrastructure. Looking ahead, we also want to unlock long-term finance through models that mobilise pension funds and sovereign wealth funds into 25-year solar equity and debt programmes by replacing short-term private equity with stable capital.
Looking ahead, we also want to unlock long-term finance through models that mobilise pension funds and sovereign wealth funds into 25-year solar equity and debt programmes by replacing short-term private equity with stable capital.
We are also exploring the use of building-integrated photovoltaics in the Global South. Since 70 per cent of buildings that will exist in developing countries by 2040 are yet to be constructed, BIPV offers a solution that addresses land and transmission constraints while delivering distributed energy. Our ultimate aim is to position the ISA as a global thought leader on solar strategies for the Global South, focusing on economics, circularity, institutional capability and long-term finance. If we succeed, the role of the ISA will not just be to accelerate solar deployment but to help countries transform their energy futures on their own terms.
