International Solar Alliance launched

Macron announces additional 700 million euros for solar energy

Macron says $1 trillion needed to achieve 1TW solar power capacity by 2030

Indore: A 15-member delegation of International Solar Alliance will visit the city on Monday to see the works done towards promoting use of solar energy in the state.

Signed at the founding conference of the ISA in New Delhi, India by Irena director-general Adnan Amin and ISA interim director-general Upendra Tripathy, the agreement targets helping countries to enshrine policies and regulations based on Irena initiatives such as the Clean Energy Corridors, a scheme aiming to shift developing economies in Africa and Central America from carbon-intensive technologies toward sustainable energy systems. "We want a solar revolution not just in India but the world".

Out of the 27 projects for which Modi offered financial assistance, 23 of them are African countries.

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Both parties agreed to cooperate on knowledge sharing and developing technology roadmaps for the promotion of solar energy, develop financing instruments to support solar energy deployment, and conduct studies and consultations to explore mobilization of concessional financing through trust funds or special funds administered by ADB. Two of the remaining four projects are in Bangladesh, worth a total of $180 million, and Sri Lanka, $100 million.

The treaty-based organization, launched by Indian Prime Minister Narendra Modi in 2015, aims to promote solar energy in 121 countries.

The French president also said France was more than tripling its commitment to the ISA alliance. These include EDF, Dassault Aviation, Schneider Electric and Suez.

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Without taking US President Donald Trump's name, Macron said that while some left the climate deal, others stayed because they wish good for their children and grandchildren. "They didn't wait, they didn't stop because few countries chose to just leave the floor and the Paris agreement", Macron said.

Adding to this External Affairs Secretary (Economic Relations) T S Tirumurthi said, "All of them (US and China) have taken part very actively in the steering committee proceedings. There is an huge opportunity at hand to bring its benefits to more and more countries around the world", said Mr. Amin.

President Akufo-Addo told the Summit that Ghana was committed and determined to increasing solar energy in the country's energy mix.

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The $1.4 billion India pledges will be part of the $2 billion under the Indian Line of Credit which will also be allocated as part of the $10 billion for development projects overseas pledged by New Delhi earlier. Initiated since 2015, the alliance aims to ease the implementation, by 2030, of additional solar plants estimated at 1, 000 GW, five times the current global capacity.

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