Monday, 25 June, 2018

International Solar Alliance: US lauds India's efforts

India commits $1.4 billion for solar energy worldwide ADB, ISA sign agreement to promote solar energy in Asia and Pacific region
Lucia Summers | 14 March, 2018, 10:56

The founding conference of ISA is being co-chaired by Indian prime minister Narendra Modi and French president Emmanuel Macron in New Delhi, with delegates including heads of state and government, ministers, chief executives of global organisations and other high-level officials. "In India, the sun was thought of as the nurturer of all life", Modi said at the launch of the International Solar Alliance (ISA).

Progress is clearly happening quickly: During 2017 alone, India doubled its installed solar capacity from 10 GW to 20 GW.

"These days, when we are looking for a way to combat climate change, we must look to this ancient perspective", he said. The International Solar Alliance is a non-profit, treaty-based organization comprised of some 121 countries.

New York Governor Andrew Cuomo recently announced $1.4 billion in funding for 26 large-scale renewable energy projects across the state, the single largest commitment to renewable energy by a state in US history.

The agreements were signed in the presence of Arun Jaitley, Union Minister of Finance and Corporate Affairs and RK Singh, Minister of State for Power and New and Renewable Energy.

New York State Governor Andrew Cuomo announced approval last week for 26 large-scale renewable energy projects, including 22 solar projects worth 647 megawatts (MW) and 733.58 MW worth of wind energy.

Champions league: Roma beat Shakhtar to enter QF
But it wasn't plain sailing for the Italian side, with Paulo Fonseca's side looking the better of the two clubs in the first half. He added: "Everyone deserves a standing ovation because we all gave absolutely everything, right up until the last minute".

One of India's primary goals during the summit is to find ways to make financing for solar energy projects more accessible in different countries.

ISA plans to address that issue in part by creating a larger, global market for solar technology that would benefit smaller countries by aggregating the risk and the demand, Tripathy said. 32 of the 60-member countries who have joined the alliance are from Africa. Many countries have begun to show strong support for solar due to its efficiency and its relatively low cost.

India┬┤s power providers, largely state-run public companies, are heavily in debt and as a result many companies generating solar power are not being paid on time, Chawla said.

Also there, were solar manufacturers, developers, financial institutions, innovators NGOs.

"All these projects are part of the Indian government's ambition to promote the development of renewable electricity and to increase the share of renewables in the energy mix", the French company explained. "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".

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