ADB, ISA sign pact to promote solar energy

ADB, ISA sign pact to promote solar energy

With French President Emmanuel Macron by his side at the founding conference of the India-initiated International Solar Alliance (ISA) here, Prime Minister Narendra Modi on Sunday presented a 10-point action plan to promote the use of solar energy.

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 global institutions and reputable financial institutions for the benefit of developing countries.

Macron said the summit would revolutionise the use of clean energy by generating over 1,000 gw of solar power by 2030. "They made a decision to act and keep acting, and that's why we are here, in order to act very concretely", Macron said.

The conference also underlined that solar energy is an alternative which offers a clean and climate friendly source, capable of ensuring energy security to the people of member states and better their lives.

# PM Modi will address the conference shortly.

It is a coalition of solar resource rich countries that seeks to address their special energy needs and will provide a platform to collaborate on addressing the identified gaps through a common approach. India has launched the "world's biggest renewable energy programme" with this target in mind, he said.

Egypt Electricity Minister Mohamed Shaker signed on Saturday a framework agreement with the International Solar Alliance (ISA) in the presence of the Ambassador of India in Cairo Sanjay Bhattacharyya. Sixty countries had signed up to join the International Solar Alliance, Naidu said, adding that 30 countries had ratified the provisions of the alliance so far.

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India, he said, will generated 175 GW of electricity from renewable sources including 100 GW from solar.

"Macron, who did not mention Trump by name, was referring to a group of women who were trained as solar engineers".

"The French Development Agency will allocate additional 700 million euros to its commitment to solar energy by 2022", Macron said. ISA aims to generate a global solar market of trillion dollars. "Of this, we have already met a target of 20 GW of installed solar power".

New Delhi also announced a Project Preparation Facility (PPF) (that) has been set up by India to assist its development partner countries towards preparation of viable projects that can be considered for concessional financing under LoC. The ISA is the first worldwide treaty-based organisation headquartered in India.

Regulatory aspects as well as standards have to be framed which will expedite adoption of solar solutions, Modi said, adding that consultancy support has to be development for putting up bankable solar projects in developing countries.

The conference was co-hosted by India Prime Minister Narendra Modi and French President Emmanuel Macron.

As many as 62 member-nations committed that they will increase the share of solar power in their energy mix to deal with climate change and provide energy to underprivileged in the society. As many as 60 nations have signed the agreement to join ISA, while 32 have ratified the agreement and made it possible to make it a legal entity in December a year ago.

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