Macron and Modi push for 'solar revolution'

Delhi to Witness Heavy Traffic During International Solar Alliance Summit, Over 40 Routes to be Affected in Central Delhi

It was about this International Solar Alliance.

Heads and ministers of dozens of countries are participating in the daylong solar summit, co-hosted by India and France. "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".

Declaring that India wanted a solar revolution not just in the country but across the world and announcing the establishment of a "Solar Techn-ology Mission", Prime Minister Narendra Modi on Sunday announced the allocation of $1.4 billion as part of India's Line of Credit (LoC) for 27 solar projects in 15 developing countries. French President, Emmanuel Macron delivered the opening address at the event. The member states in the Alliance also pledged to "facilitate affordable finance, access to appropriate, clean and environment friendly technology and undertake capacity building, including forging mutually beneficial partnerships with reputable worldwide institutions and reputable financial institutions for the benefit of developing countries".

The summit will be held at Rashtrapati Bhavan's Cultural Centre.

"But in order to reach the 1,000 billion dollars by 2030, to reach the 1 TW of solar energy, we need private investors", he said, adding that the alliance will provide a favourable framework. "We have to look at this ancient balanced and all-encompassing philosophy when when we today look for ways to deal with the challenge of climate change", he said.

But, he said, only 50 to 60 per cent people living in the region have access to electricity.

After subsequent ratification by nearly 30 countries (15 was the minimum number required for it to gain a legal status) and with 61 countries having signed the framework agreement, it became a legal entity.

As per the agenda they will also consider off-grid solar applications to cater to the energy requirements of poorer and/or remote communities and also facilitate awareness and skills enhancement of local communities in the monitoring and maintenance of solar technologies in the member countries.

Speaking at the conference, PM Modi called for concessional financing and low-risk funding for solar projects so that the share of solar power can be raised in the energy basket and cheaper electricity can be provided while reducing carbon emissions. "One hundred projects have already been listed", he said, further calling the member states that investments in "these projects are very profitable". "There is a joint destiny which means we also have some joint duties", President Macron said.

But the efforts of governments were not enough to achieve the 2030 goal and private sector industry, global institutions and civil society would have to join in, Macron added.

At present, the country's renewable energy installed capacity is 63 GW.

India and France also signed a technical agreement Saturday on the French-assisted nuclear power project at Jaitapur in western Maharashtra state.

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