Monday, 24 September, 2018


India seeks to promote solar energy throughout the world

Solar Energy- Global Solar Power India seeks to promote solar energy throughout the world
Noah Ferguson | 14 March, 2018, 12:11

India on Sunday announced one of the world's largest investment plans in solar energy at the Founding Conference of the International Solar Alliance (ISA). These countries represent 73% of the world's population.

India aims for renewable energy to make up 40 percent of installed power capacity by 2030, compared with 18.2 percent at the end of 2017, and the ministry of new and renewable energy said in January it was looking to address issues facing solar companies.

New York Governor Andrew Cuomo recently announced $1.4 billion in funding for 26 large-scale renewable energy projects across the state, the single largest commitment to renewable energy by a state in US history.

"These days, when we are looking for a way to combat climate change, we must look to this ancient perspective", he said.

In a major boost for its Light up and power Africa initiative, the African Development Bank has entered into partnership with the International Solar Alliance (ISA) to scale up solar energy in Africa.

The goal is to develop 10,000 megawatts (MW) of solar power systems across the Sahel to provide electricity to 250 million people, 90 million of them, on off-grid systems.

Both parties agreed to cooperate on knowledge sharing and developing technology roadmaps for the promotion of solar energy, develop financing instruments to support solar energy deployment, and conduct studies and consultations to explore mobilization of concessional financing through trust funds or special funds administered by ADB. There are financial hurdles, regulations, capacity hurdles as well.

Thirty-two (32) of the ISA's 60-member countries are from Africa.

Reuters reported that France will commit 700 million euros to ISA, reiterating the European country's commitment to the alliance and clean energy.

"India would have to build on average 35 gigawatts of renewable energy per year for the next five years".

Tripathy added: "While solar is fast becoming one of the most cost-effective ways to generate new power and deliver energy access, to deploy fast enough, complementarity must exist between our work and the broader renewable energy mandate and development tools established by Irena".

Prime Minister Narendra Modi President Macron will jointly inaugurate a solar plant in Mirzapur district of Uttar Pradesh today.

The conference is being attended by heads of 23 nations and 10 ministerial representatives of different countries, besides heads of UN dignitaries, presidents of multilateral development banks, heads of global funds and financial institutions and energy-related institutions.

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