15-member ISA delegation to inspect city's solar energy promotion efforts today

14 March, 2018, 06:21 | Author: Chad Mckenzie
  • PM Modi and Marcon

The Prime Minister said of the 121 countries associated with ISA, 61 have joined the alliance and 32 have ratified the Framework Agreement.

It also called for exploring innovative financing mechanisms that can generate a sustainable market for the deployment of cost effective solar technologies, coupled with constructive policy initiatives to catalyse public and private investments to reduce the cost of solar projects in developing countries.

India has set an ambitious target of installing 175GW of renewable energy, including 100GW from solar by 2020 as announced by India's Prime Minister Narendra Modi at the joint launch of the ISA with then-French President Francois Hollande on 30 November 2015.

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French President Emmanuel Macron stressed the need for "concrete action" on renewable energy projects at the first meeting of the International Solar Alliance (ISA) in New Delhi, co-hosted by France and India.

Speaking at the conference, Macron said France was more than tripling its commitment to the alliance, and its total monetary contribution to the alliance stood at one billion euros.

Most of the member countries are located in equatorial regions in Africa and the Indian Ocean. He said better and cheaper solar technology should be easily available to all nations. The volume of investments so far made by Masdar is around US$1.7 billion in global renewable energy projects, which have a capacity of about 2.7 GW. Solar energy policy has to be to looked at in totality for development so that it can contribute to achievement of sustainable development goals (SDGs), he said. To date, 121 countries are involved in the International Solar Alliance.

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On the occasion, Singh said that ISA has the potential to have a huge impact on the future of the planet, adding that he is happy that renewable energy has become viable.

Macron took a jibe at US President Donald Trump at the summit for his decision to withdraw from the Paris climate change agreement. "Because they decided it was good for them, their children and grandchildren and they chose to act and keep acting", he added.

"We have to encourage innovation so that solar solutions can be provided for various needs". "We have to increase the share of solar in energy mix", he said. This comes even as India chases the world's largest renewable programme, targeting 175 gigawatts (GW, or 1,000 megawatts) of renewable power by 2022 against its current capacity of around 60 GW.

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He called for concessional financing at lower risk for solar projects and said regulatory aspects and standards should be developed to find solutions fast.



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