France to commit €700m to solar energy group

International Solar Alliance

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Leaders from 40 countries have come to India to participate in the world's first official International Solar Alliance summit.

The ISA is a treaty-based inter-governmental alliance of 121 sunshine-rich countries that lie fully or partially between the Tropics of Cancer and Capricorn. "In this context, IRENA stands ready to work with ISA and its members to scale-up solar energy deployment as a means to expanding affordable, reliable and sustainable energy access, as well as to addressing climate and energy security concerns".

"The International Solar Alliance has a well-articulated goal to facilitate the mobilisation of Dollars 1 trillion of capital to rapidly accelerate the adoption of solar energy all over the world", said Upendra Tripathy, Interim Director-General of the International Solar Alliance. Heads of state of 23 nations were present at the event.

"We extend our congratulations to the ISA on the occasion of its founding ceremony". "This Sullivan County project will deliver energy savings to residents throughout the Mid-Hudson Valley region, while supporting the establishment of a cleaner, greener NY for all".

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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.

"We have been pleased to provide technical support to the ISA and will continue to look for opportunities where the USA can collaborate with the ISA in future", the spokesperson said.

The agreement, according to the statement, was sealed on the margins of the just ended conference of the ISA held in New Delhi, India and co-chaired by Indian Prime Minister Narendra Modi and French President Emmanuel Macron of France. However, the MIT Technology review said that the well-intentioned target looks almost impossible to achieve.

By the end of 2017, it had almost 7 times that, or 20 GW, according to industry tracker Bridge to India, a renewable energy consultancy.

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Indian solar sector attracted over United States dollars 10 billion investment in 2017 as compared to USD 4 billion in the previous year, clean energy research firm Mercom Capital said today.

The Asian Development Bank (ADB) and the International Solar Alliance (ISA) have signed a cooperation agreement to promote solar energy deployment in Asia and the Pacific region.

ISA plans to address that issue in part by creating a larger, global market for solar technology that would benefit smaller countries by aggregating the risk and the demand, Tripathy said.

Progress is clearly happening quickly: During 2017 alone, India doubled its installed solar capacity from 10 GW to 20 GW.

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