NDB, ISA tie up to promote solar energy

Randolph Lopez
March 13, 2018

India also announced its $1.4 billion assistance for developing 27 solar projects in 15 countries, signalling that New Delhi would employ the first treaty-based global government organization based in India as a foreign policy tool to cement its leadership among developing countries.

In his remarks, President Akufo-Addo noted that "the establishment of the International Solar Alliance, in our view, is very appropriate in today's circumstances".

The ISA member states also agreed "to increase their efforts to pursue an increased share of solar energy in the final energy consumption in our respective national energy mix, as a means of tackling global challenges of climate change and as a cost effective solution by supporting and implementing policy initiatives and participation of all relevant stakeholders, as applicable, in our respective states". "They chose to act and keep acting".

"ISA is being described as India's gift to the world to combat climate change", said Sir Peter Cosgrove, governor general of the Commonwealth of Australia.

Referring to a group of rural women solar engineers "solar mamas" who had performed earlier, Macron said: "Our solar mamas, we just listened to, didn't wait for us. They made a decision to act and keep acting", he said. They started to act and to deliver concrete results.

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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.

India and France were standing ahead of the line when 195 nations signed the landmark Paris [Climate] Agreement, in which there was global consensus to work towards limiting global warming to two degrees Celsius by 2100.

ISA, launched by Indian Prime Minister Narendra Modi in 2015, is a treaty-based organisation of 121 solar resource rich countries, whose goal is to mobilise Dollars 1 trillion in funds for solar and energy storage capacity globally by 2030. It seeks to facilitate cooperation between 121 solar-rich countries lying between the Tropics of Capricorn and Cancer in order to lower prices and drive innovation in the solar sector. Of these, 61 have signed the framework agreement and 32 have also submitted their instruments of ratification.

"We have to make sure that a better and more cost effective solar technology is available to all", Modi added. India also aims to achieve 40% installed power capacity from renewable energy by 2030.

"Solar power is providing clean energy for millions of people around the world and solar energy now represents the single largest source of new power generation", said Werner Hoyer, President of the European Investment Bank "The fate of this planet depends on continuing to expand the use of renewable energy to support sustainable economic growth". India, meanwhile, has committed to building the capacity for 100 gigawatts of solar power by 2022.

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