Narendra Modi calls for concessional, less-risky financing for solar projects

The ISA’s five solar programs

The ISA’s five solar programs

Speaking at the plenary session of the conference, Modi said there should be a full ecosystem for availability and development of technology, economic resources, development of storage technology, mass manufacturing and innovation.

To make clean, affordable and renewable energy available to all and to ensure the promotion of green, clean and sustainable energy.

100 first projects for solar applications have been identified from 34 ISA member countries.

Provide concessional financing and less-risky finance for solar projects. "If we want the welfare of planet Earth and of the whole humanity, I am confident that we can come out of our personal confines and like a family, bring unity in our aims and efforts (to promote solar energy)".

Stressing on inclusiveness, he said a vast network of centres of excellence has to be created.

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To this end, and in keeping with Ghana's commitments under the Paris Agreement, the President outlined some solar energy programmes for implementation by 2030, which include the attainment of utility-scale solar electricity from about 22.5 megawatts to 250 megawatts. "Also, the Gulf leaders have expressed their support to PM Modi when he has travelled to the region on the significance of the Solar Alliance".

Of the 121 nations which are situated between the two tropics and are, therefore, solar rich, 61 have joined the alliance and 32 have even ratified the framework agreement of the treaty.

# PM Modi will address the conference shortly.

"In India, the sun has always been seen as the nurturer of life". We need to increase the solar proportion in our energy mix, ' PM Modi said.

Macron said the summit to revolutionize 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.

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He lauded India's solar commitments that has 20 GW installed solar capacity - one of the fastest growing in the world.

During the course of his stay in India, Macron will also visit Agra and Varanasi and have a town hall interaction with students in New Delhi.

He said that the "Solar Study Lamp Scheme" is providing power to around 7 million school-going children.

"Australia congratulates India and France on their leadership in establishing the ISA", Australia's High Commissioner to India Harinder Sidhu said in the statement.

Progress in this regard is already underway as the ISA has already signed deals for nine projects, which will be deployed in the UAE, Saudi Arabia, Nigeria, India and Spain, with the help of eight companies - Vyonarc Development Ltd., Waree Engineers, Gensol Group, SOLARIG, Shakti Pump, Refex Energy, Amplus Solar, and Zodiac Energy.

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