France, India launch alliance for solar energy

Reuters

In India, the vedas for thousands of years, have considered the sun the soul of the world. Under the deal, India and France will open their naval bases to each other's warships, a move seen as an attempt to undermine China's territorial ambitions. "It was two years ago, it was just an idea at that time and we decided all together to act very quickly and today a big change". Turning to Modi, Macron said, "Mr". "We had allocated euro 300 million (USD 370 million) for solar projects and this commitment has been met".

Macron also acknowledged that in order to achieve the aim, the member countries will have to cross hurdles.

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.

Earlier, Prime Minister Modi received the heads of the various countries who are participating in the summit. By this, we have not only saved energy worth 2 billion dollars but also saved 4GW of electricity. "We want solar revolution globally too".

"We have to identify the needs of our member countries".

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The action plan includes increasing the share of electricity generated from photovoltaic cells in the energy mix, framing of regulations and standards and consultancy support for bankable solar projects. The ISA is the first global treaty-based organisation headquartered in India.

"Indian Renewable Energy Development Agency (IREDA) and Solar Energy Corporation of India (SECI) have announced contribution of US$ 1 million each to the ISA corpus and we will do much much more", she said.

At this past weekend's ISA conference, both countries reiterated their commitment to worldwide climate change efforts.

One hundred and twenty-one countries, situated between the tropics, have signed on to the ISA. "This is what the alliance of 121 countries in Africa, Asia, Latin America and Oceania shall be doing", Macron said Sunday. ISA hopes to bridge that gap and help in greater accessibility to energy for the poor.

As many as 60 nations have signed the agreement to join ISA, while 30 have already ratified the agreement and made it possible to make it a legal entity in December previous year. It is no wonder then that ISA will be headquartered in Gurgaon in Delhi's suburbs, the first time that an global treaty body will have its secretariat in India.

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Who are the member countries? But it is not steering committee's mandate to re-examine it. "We have to provide concessional financing and less-risky funds for solar projects", he said. "They have shown interest", External Affairs Joint Secretary (Europe West) K Nagaraj Naidu said, while replying to a question whether other countries have shown interest in ISA or not.

Promising more loans and donations for solar projects by 2022, Macron stressed the need to remove obstacles in scaling up clean energy.

The signatories to the arrangement were ISA interim director general Upendra Tripathy and ADB knowledge management and sustainable development vice president Bambang Susantono, in the presence of India Finance Minister and ADB Governor Arun Jaitley.

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

At the founding, the world's major development banks also sort to back the initiative. 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.

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