International Solar Alliance to Promote Solar Globally

14 March, 2018, 06:17 | Author: Irene Delgado
  • Macron says $1 trillion needed to achieve 1TW solar power capacity by 2030

The French President co-chaired the summit with Prime Minister Narendra Modi at the Rashtrapati Bhavan that was also attended by the heads of 23 nations and 10 ministerial representatives.

It is open to all 121 prospective member countries falling between the Tropics of Cancer and Capricorn.

A three-page "Delhi Solar Agenda" issued at the end of the conference stated that the ISA reiterated its commitment to the 2030 UN Agenda for Sustainable Development that calls for eradication of poverty in all its forms and dimensions and for transforming our world in which development and application of technology are climate-sensitive, respect biodiversity and are resilient. "The joint goal is to have 1 TW of solar energy by 2020 for which we need $1,000 billion", he said.

The Asian Development Bank (ADB) and the International Solar Alliance (ISA) have signed a cooperation agreement to promote solar energy deployment in Asia and the Pacific region. "In this context, [we] stand ready to work with ISA and its members to scale-up solar energy deployment as a means to expanding affordable, reliable and sustainable energy access, as well as to addressing climate and energy security concerns".

The NDA government yesterday called for concessional financing and less-risky funds for solar projects to increase the share of solar power in the energy basket, provide cheaper electricity and reduce carbon emissions to fight climate change.

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The Agenda also called for facilitating affordable finance, access to appropriate, clean and environment friendly technology and undertaking capacity building, including forging mutually beneficial partnerships with reputable worldwide institutions and reputable financial institutions for the benefit of developing countries.

India and France have joined hands to spearhead a global "solar revolution" with an aim to generate one terawatt of energy by 2030, an ambitious goal that requires $1 trillion in funds. He said better and cheaper solar technology should be easily available to all nations.

Speaking at the launch of the first International Solar Alliance (ISA) summit, Macron called for "joint duties" towards a "planet that we are sharing" and took a dig at his United States counterpart Donald Trump, who pulled out of the 2015 Paris climate deal. Also on the cards is a project to develop solar energy storage for use in mobility, Tripathy said. He also revealed that ISA has to date secured 60 signatories and 30 parties already had ratified solar alliance.

For his part, Modi pointed out that India has started the world's largest renewable energy expansion program.

India's wind power generation capacity is 32.8 GW.

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