International Solar Alliance to Promote Solar Globally

PM Modi and Marcon

The Founding Conference of ISA, co-chaired by PM Modi and President Macron, is taking place at the Rashtrapati Bhavan Cultural Center in New Delhi and is being attended by heads of state and government, ministers, heads of worldwide organisations and other high-level officials.

The International Solar Alliance (ISA) is an alliance of more than 121 countries, majority being sunshine countries, which lie either completely or partly between the Tropic of Cancer and the Tropic of Capricorn.

The NDB and the ISA agreed to consider a roadmap for the mobilisation of financing to promote solar energy in countries of common interest and to explore mechanisms for supporting solar energy development. The ISA's major objectives include global deployment of over 1,000GW of solar generation capacity and mobilization of investment of over $1 trillion into solar energy by 2030.

Modi said there should be a full ecosystem for availability and development of technology, economic resources, development of storage technology, mass manufacturing and innovation. 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.

In the past decade, the UAE has intensified its efforts towards deploying solar energy solutions.

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France, Macron said, has already met its 2015 pledge of providing 300 million euros ($369 million) to ISA member countries, and the French development agency will allocate an additional 700 million euros to its solar energy commitments by 2022.

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

Macron took a jibe at US President Donald Trump at the summit for his decision to withdraw from the Paris climate change agreement. "They chose to act and keep acting", he said. "India will begin the solar technology mission to bridge the gap in solar technology".

"We have to ensure that a better and affordable solar technology is easily accessible to everyone", he said. "The joint goal is to have 1 TW of solar energy by 2020 for which we need $1,000 billion", 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. "We will have to provide concessional and low-risk financing for solar projects, and develop regulatory aspects and standards to [find solutions]", he said, adding consultancy support would be required for "bankable solar projects" in developing countries.

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