India attempts to take pole position in the world's clean-energy transformation

India attempts to take pole position in the world's clean-energy transformation

India attempts to take pole position in the world's clean-energy transformation

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.

Irena project tools and platforms such as the Global Atlas for Renewable Energy, the Project Navigator, and the Sustainable Energy Marketplace will be made available to ISA, a coalition of 120 sun-belt countries launched at the UN Climate Change Conference in Paris in 2015 with the mission of mobilising $1trn for solar energy projects globally.

India and France called for affordable solar technology and concessional finance for promoting solar energy.

Prime Minister Narendra Modi, whose country pledged to fulfill at least 40 percent of its energy needs from renewable sources by 2030, said the ISA nations will have to "increase solar in our energy mix".

This is in addition to the 13 solar development projects, either finished or being implemented under the Indian line of credit worth $143 million in African countries.

These nations, Macron said, have 138 gigawatt of solar power potential over the next five years.

In the past decade, the UAE has intensified its efforts towards deploying solar energy solutions.

The ISA's major objectives include global deployment of over 1,000 GW of solar generation capacity and mobilisation of investment of over United States dollars 1 trillion into solar energy by 2030.

"This struggle for renewable energy is also a struggle for empowerment: the empowerment given to each State of the Solar Alliance to succeed at national-scale, to give opportunity to everyone and allow citizens to build their own place and therefore to be trained to create jobs in these sectors", France's President Emmanuel Macron, who co-chaired the launching ceremony said. "This is what the alliance of 121 countries in Africa, Asia, Latin America and Oceania shall be doing", Macron said Sunday.

"With the U.S. withdrawing from the Paris Agreement, there is a seat open at the head table of climate leadership and India is very well poised to take that seat".

"They chose to act and keep acting, and that's why we are here, in order to act very concretely". "We will generate 175GW of electricity from renewables by 2022, of which 100GW of power will be from solar energy". 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.

For his part, Modi pointed out that India has started the world's largest renewable energy expansion program.

Macron's 4-day India visit concludes on Monday.

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