ISA Summit big step towards greater global energy security: United Nations environment chief

India all set to Challenge China in Solar Panel Manufacturing

In 2015, during a speech in the Wembley Stadium the Honb'le Prime Minister of India proposed an worldwide solar alliance for the first time.

Prime Minister Narendra Modi and the President of the French Republic, Emmanuel Macron at the Founding Conference of the International Solar Alliance, at Rashtrapati Bhavan, in New Delhi on March 11.

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

Besides 23 heads of state, senior representatives of many countries, including deputy prime ministers and energy ministries have confirmed their participation in the day-long ISA Summit.

It acknowledged "the importance of access by women and youth to advance knowledge and solar energy technologies, especially in poorer communities, rural and remote areas". "It was two years ago, it was just an idea at that time and we decided all together to act very quickly and today a big change".

Although it did not provide a full list of what they were, they included a water project for Suez, and the signing of an "industrial way forward agreement" between EDF and the Nuclear Power Corporation of India.

The EIB, in attending this week's International Solar Alliance summit, will also announce an additional commitment of €500 million in new support for renewable energy projects across India in partnership with the Indian Renewable Energy Development Agency (IREDA). It was launched by India and France on the sidelines of the 2015 Paris Climate Conference. The ISA has 121 member countries, which lie completely or partly between the Tropic of Cancer and Tropic of Capricorn. Additionally, over the last 7 years, 50% of the EIB's solar investment was located in developing and emerging economies, financing projects in Africa in Morocco, South Africa, and Burkina Faso; across Latin America in Nicaragua and Peru; in Asia in India and Vietnam; and Turkey and Israel.

The intergovernmental organisation, which was proposed by Modi in 2015, has gathered 60 signatories, 30 of whom have ratified the agreement. India, with a target to produce 100 GW of solar energy by 2022, would account for a tenth of ISA's goal.

To promote solar power, Modi also outlined 10 action points including increasing solar power in the energy mix, ensuring availability of better and cheaper solar power for all, concessional financing for solar projects, and creating a network of centres of excellence.

"Because they (solar mamas) decided it was good for them, for their children, their grandchildren", Mr Macron said.

The oblique reference was towards US President Trump's decision to pull out of the Paris climate agreement, which was signed by almost 200 countries in December 2015 in an effort to curb global greenhouse gas emission and limit global warming to within 2 degrees Celsius.

India's wind power generation capacity is 32.8 GW. "They are participated. So, there is great deal of enthusiasm to this initiative (ISA)".

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