” Today is a big change”, Macron mentioned during the summit”. “This is what the alliance of 121 countries in Africa, Asia, Latin America and Oceania shall be doing”, Macron said Sunday.
Furthermore, China Light and Power company and Electric power distribution company announced forging partnership deal with ISA and committed to make voluntary contribution of $1 million each to ISA fund corpus.
Promising more loans and donations for solar projects by 2022, Macron stressed the need to remove obstacles in scaling up clean energy.
French President Emmanuel Macron took a jab at President Donald Trump on Sunday for his decision to withdraw the United States from the Paris climate agreement. “In India, we have distributed 28 crore (280 million) LED bulbs in last three years”.
A major turning point in the efforts exerted by the UAE to bolster clean energy use is the establishment of Masdar, the regional leader and a major global player in renewable energy development. “This also cut carbon emissions by 30 billion tonnes”, Modi said.
The minister highlighted that the effects of global warming are apparent with every successful year. “To this endeavour, we look forward to the unlocking of a new dynamic in renewable energy with support from and solidarity among the member countries of ISA”, said President Hamid.
The PPF will provide consultancy support on grant basis to requesting governments for project formulation. For these projects, the ISA will help mobilise concessional financing.
“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 one trillion dollars needed for solar investments globally in the coming years will obviously not come from governments alone”.
Further, he stated that the expectation of this project is to generate 1000 Mw of electricity by 2025 and that they are in the process of developing 1 Mw – 10Mw capacity solar power system to assist small and medium level industries.
Modi had in a speech at London’s Wembley Stadium in 2015 proposed the idea of an inter-governmental organisation comprising of 121 countries, which lie either completely or partly between the two tropics, with an aim to promote solar energy. Most of these countries are small, developing or underdeveloped, and lack visibility when it comes to garnering financial assistance.
Modi said that the agreement signed in Paris in 2015, has finally become a reality in 2018 in the Indian capital. The ISA is the first worldwide body that will have a secretariat in India. It was followed by the first summit of the Alliance. “We have got 70 projects from various countries with a call of Expression of Interest”, Tripathy told indiaclimatedialogue.net.
But, they are yet to sign the agreement.
Solar as a source of energy, he said, is part of the solutions to climate change as it is a clean energy source.
At the founding, the world’s major development banks also sort to back the initiative.
Meanwhile, the International Energy Agency (IEA) and the International Renewable Energy Agency (IRENA) have also signed separate joint partnership declarations with the ISA.