Recently, India hosted the heads of 23 nations and 10 ministerial representatives for the first International Solar Alliance (ISA) summit, which is expected to give a boost to India’s ambitions to lead global sustainable development. The Delhi summit was co-hosted by President Ram Nath Kovind and his French counterpart, President Emmanuel Macron. This is also the first time an international and inter-governmental organisation has set up its headquarters in India.
The alliance assumes significance in a world where, 140 years after the invention of electricity, over 1 billion people still live in the dark and majority of them live in tropical countries. To address this pressing need sustainably, the alliance plans to generate 1,000 GW of solar energy and raise $1 trillion in investment across tropical countries by 2030. They have also committed to make the cost of solar power more affordable for remote and inaccessible communities. The alliance will support India in achieving its ambitious goal of generating 100 GW of solar power by 2022 by providing technological and financial assistance. The European Investment Bank (EIB) has also approved an €800 million investment package to support renewable energy across India. This is expected to help over 11 lakh households gain access to clean renewable energy and also provide significant employment opportunities. Read More…
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