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

SUNSHINE HQ PM Modi and then French president Francois Hollande at the foundation of the ISA HQ in Gurugram

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 interim secretariat of the ISA is in the campus of National Institute of Solar Energy in Gwalpahari, Haryana.

Speaking at the conference, Macron took a swipe at US President Donald Trump for backing out of the Paris climate agreement. Earlier in the day, Prime Minister Narendra Modi mentioned about these projects and the investment in his inaugural address of the conference.

They have also chose to leverage and emphasise the key characteristics and strengths of solar energy in their national energy plans and strategies and to assist through the implementation of solar strategies.

"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. Our solar mamas didn't wait for us.

Adding to this External Affairs Secretary (Economic Relations) T S Tirumurthi said, "All of them (US and China) have taken part very actively in the steering committee proceedings".

Modi also presented a 10-point action plan that included making affordable solar technology available to all nations, raising the share of electricity generated from photovoltaic cells, framing regulations and standards, providing consultancy support for bankable solar projects and creating a network of centres for excellence.

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. They started to act and to deliver concrete results.

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ISA's mission is to undertake joint efforts required to reduce the cost of finance and the cost of technology, mobilize more than $1,000 billion of investments needed by 2030 for massive deployment of solar energy, and pave the way for future technologies.

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 intergovernmental organisation, which was proposed by Modi in 2015, has gathered 60 signatories, 30 of whom have ratified the agreement.

Referring to "solar mamas", a group of African women trained as solar engineers under an Indian government program, Macron said these women "didn't wait and didn't stop because some countries made a decision to just leave the floor and leave the Paris agreement".

As the International Solar Alliance (ISA) kicked off its founding conference in New Delhi this past weekend, India and France publicly reaffirmed their commitment to working together to fight climate change.

India's wind power generation capacity is 32.8 GW. India, with a target to produce 100 GW of solar energy by 2022, would account for a tenth of ISA's goal. "They are participated. So, there is great deal of enthusiasm to this initiative (ISA)".

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