Friday, 22 June, 2018

Macron pledges US$700m euros for new solar projects

The ISA’s five solar programs The ISA’s five solar programs
Faye Gross | 12 March, 2018, 06:39

The Indian government, in a document named 'Delhi Solar Agenda, ' said the founding conference, co-chaired by Prime Minister Narendra Modi and visiting French President Emmanuel Macron with the participation of more than 120 representatives, expressed commitment of founding states to a clean and healthy world for the current generation and beyond, rooted in sustainable lifestyles.

Speaking at the launch of the first International Solar Alliance (ISA) summit, Macron called for "joint duties" towards a "planet that we are sharing" and took a dig at his U.S. counterpart Donald Trump who pulled out of the 2015 Paris climate deal.

How did the International Solar Alliance come about?

"I am happy to announce that to fill the gap of solar technology, India will start a solar technology mission with worldwide focus, which will cover all government technical and educational institutions", Prime Minister Narendra Modi said, announcing the unprecedented investment.

Modi flagged the need for investment in better and more accessible solar technology, concessional finance for solar projects, easing of regulatory mechanisms and persuading developed countries to provide consultancy services among other "action points".

The International Solar Alliance is the first international organization hosted in India, with its headquarters situated in Gurugram, in the outskirts of New Delhi.

Currently, there are 121 member countries, out of which 61 have joined the alliance and 32 have ratified the ISA Framework Agreement. "I am also pleased to announce that India will start a Solar Technology Mission which will have worldwide focus", the prime minister said.

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Macron, who in December warned that the global shift to a green energy future was too slow, said France would extend an extra €700 million (US$861.5 million) through loans and donations by 2022 for solar projects in emerging economies.

This is because mobilising financial resources for additions to global solar capacity has become tougher after the United States backed out from the Paris Climate Agreement, under which industrialised countries have committed to provide US$ 100 billion a year from 2020 onwards to developing countries to help them fight climate change and implement mitigation and adaptation measures. "We need to increase the proportion of solar power in our energy mix", Modi said.

Macron said the alliance needed to identify solar projects in every single member country. "You made a dream and we did it; it was about this worldwide solar alliance". They started to act and to deliver concrete results. Because they (ISA nations) decided it is good for them their children and grandchildren.

He said India has launched the "world's biggest renewable energy programme with a target to generate 175 GW of electricity from renewable sources".

"Financing together, sharing expertise, innovative technology - along with total transparency at the top", was what the ISA was all about, Macron said.

On Sunday, he will meet leaders from Sri Lanka, Australia and Bangladesh, among others at the Rashtrapati Bhavan Cultural Centre.

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