New Delhi, Mar 10 The Asian Development Bank (ADB) and the International Solar Alliance (ISA) today signed a cooperation arrangement to promote solar energy deployment in Asia and the Pacific.
For achieving the ISA target of over 1,000 GW of solar generation capacity and mobilisation of investment of over Dollars 1 trillion by 2030, Modi called for concessional financing and less-risky funds being made available for such projects.
The Delhi Solar Agenda was launched at founding summit, which states that countries will pursue an increased share of solar energy in the final energy consumption in their respective national energy mix to tackle global challenges of climate change.
French President Emmanuel Macron's progressing India visit is probably going to support Prime MinisterNarendra Modi's drives on relieving the impacts of environmental change with the utilization of sustainable power source. "Solar energy can help us do all", Solheim, the Executive Director of UN Environment told PTI. "We have to increase the share of solar in energy mix", he said.
In his speech, PM Modi said, "We want a solar revolution not just in India but the world".
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Mr Macron and PM Modi also praised "Solar Mamas" - a group of rural women solar engineers from Africa nations who have been trained under Indian Government-supported programmes to install, use, fix and maintain solar lanterns and household solar lighting systems in their villages - describing them as inspirational.
He also urged countries to facilitate purchase and supply of electricity generated from solar energy.
Apart from co-host France, countries like Australia, UAE, Niger, Gabon, Seychelles, Ghana, Rwanda, Fiji, Bangladesh and Sri Lanka are also taking part in the ISA summit.
Meanwhile, the International Energy Agency (IEA) and the International Renewable Energy Agency (IRENA) have also signed separate joint partnership declarations with the ISA.
ISA is an inter-governmental organization that aims to mobilize $1 trillion in funds for future solar generation, storage and technology across the world.
ISA was conceptualised to deploy large-scale solar power (1000 GW by 2030) in 121 sunshine-rich countries that lie between the Tropic of Cancer and the Tropic of Capricorn.
"It is common good and it is for the development of all countries", he said.
Under the ISA, 100 centres for excellence would train 10,000 technicians to achieve the target of 1,000 GW of solar energy that needs $1,000 billion, the President said. The ISA is the first global body that will have a secretariat in India.
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.
Seven months ago, when Prime Minister Modi came to Paris, all was done to make the International Solar Alliance Summit, which was an agreement in principle, a reality.
The French leader called on private sector attendees in New Delhi to engage more actively because "solar investments are becoming more profitable".
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