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


Of these, 61 have signed the framework agreement and 32 have also submitted their instruments of ratification.

The organisation is also working on other projects, such as the one to promote the use of solar pumps in farms, replacing diesel ones, or the one to procure financing for member countries, or those to promote the use of mini-grids.

Launched by Prime Minister Narendra Modi and then French President Francois Hollande at the Paris climate summit in 2015, the ISA was conceived as a coalition of solar resource-rich countries to address their special energy needs and provide a platform to collaborate on dealing with the identified gaps through a common, agreed approach.

The Agenda also called for facilitating affordable finance, access to appropriate, clean and environment friendly technology and undertaking capacity building, including forging mutually beneficial partnerships with reputable worldwide institutions and reputable financial institutions for the benefit of developing countries.

"On March 10 2018, the New Development Bank (NDB) and International Solar Alliance (ISA) signed in New Delhi, India a Joint Declaration for the Promotion of Solar Energy Globally", an NDB statement said.

Macron said the summit to revolutionise the use of the clean energy by generating over 1,000 GW of solar power by 2030 was an outcome of the Paris accord even as "some left the floor" but others made a decision to act and keep acting. The country has increased its solar power capacity by about eight times over the past four years.

President Akufo-Addo informed the Summit that a major strategy to achieving those targets in Ghana, was to build the relevant domestic capacity in the manufacture and assembling of solar energy systems and accessories within Ghana.

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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 United States counterpart Donald Trump, who pulled out of the 2015 Paris climate deal. Solar energy policy has to be to looked at in totality for development so that it can contribute to achievement of sustainable development goals (SDGs), he said.

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 chose to just leave the floor and leave the Paris agreement".

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".

"We have to ensure that a better and affordable solar technology is easily accessible to everyone", he said.

It acknowledged "the importance of access by women and youth to advance knowledge and solar energy technologies, especially in poorer communities, rural and remote areas".

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.