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International Solar Alliance | Must cut risk on solar financing, says PM Modi

International Solar Alliance | Must cut risk on solar financing, says PM Modi

He and Mr Modi will open a new 100 megawatt solar plant near the city of Varanasi on Monday. The second programme focuses on scaling up affordable financing for solar while the third aims to promote solar mini-grids, especially in the least developed and small island countries.

"In India, the sun has always been seen as the nurturer of life".

China is targeting over 360 GW of renewable capacity generation during the period.

"India is going to maintain and accelerate the momentum".

International Solar Alliance (ISA) is a treaty-based international inter-governmental organisation which was launched on November 30, 2015, in Paris, France, and headquarters at Gurgaon, Haryana.

Addo on Thursday, March 8, 2018, left the shores of Ghana to attend the International Solar Alliance (ISA) Summit in New Dehli, India, on the invitation of the Prime Minister of India, Narendra Modi, and the President of France, Emmanuel Macron.

Prime Minister Narendra Modi and French President Emmanuel Macron on Sunday underlined the importance of the International Solar Alliance (ISA) for global energy security and environment protection at its founding conference here. "We decided all together to act concretely and today is a big change", Macron said.

Macron said France would extend an extra €700 million through loans and donations by 2022 for solar projects in emerging economies.

"Credit is a challenge. The fundamental issue is, do all member countries have equal ability to exploit solar energy?"

Bihar bypolls: Voting underway for Araria Lok Sabha, 2 assembly seats
Gorakhpur: Chief Minister Yogi Adityanath at a polling station to cast his vote for Lok Sabha by-election. He again became the Chief Minister with the support of BJP and Sushil Modi became his deputy.

Macron said the countries at the ISA represent three-fourths of the world population. "They didn't wait and they didn't stop because some countries decided just to leave the floor and leave the Paris agreement". "With ISA Summit, we bring capabilities closer to needs", he said in a tweet.

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.

Rwanda is among nations adopting solar energy solutions as part of the country's energy mix.

Earlier, 61 countries signed and 32 ratified the ISA Framework Agreement which is a reflection of common desire to significantly augment harnessing of solar energy, make joint efforts towards development and mobilize investment in the solar sector.

The fund will be used to insure solar power projects against risks such as default in payment by electricity procurers, foreign exchange fluctuations and regime change. As much as 20-50 per cent of the population do not have access to power.

He said Bangladesh is "always ready to mutually collaborate and cooperate for ensuring affordable, reliable, sustainable and modern energy for all".

"We have set up a project preparation facility consultancy support to partner countries in designing bankable projects. May you bless us...", she said, with folded hands. "The funding from GCF will complement this effort and help our developing member countries address the effects of climate change and meet their commitments under the Paris climate agreement".

He said India had contributed $62 million to the ISA corpus fund and for the establishment of the ISA secretariat.


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