While delivering the inaugural address at the first International Solar Alliance (ISA) Summit in New Delhi, Prime Minister Narendra Modi Sunday shared a 10-point action plan for solar energy. French President Emmanuel Macron was also present at the summit when the PM expressed his gratitude towards France for its contribution to the alliance which focuses on clean energy.
PM Modi’s plan also includes making affordable solar technology available to all nations, raising the share of electricity generated from photovoltaic cells in the energy mix, framing regulations and standards, consultancy support for bankable solar projects and creating a network of centres for excellence. He also called for concessional and less-risky finances for raising the share of solar electricity in the energy mix.
PM also pledged to generate 175 gigawatts GW (including 100 GW from solar) of electricity in India from renewable energy sources by 2022 and said that it would require a mobilisation of investment of over $1 trillion by 2030. He called for concessional financing and less-risky funds being made available for such projects.
Modi also said that India had distributed 28 crore LED bulbs in the last three years which have helped save $2 billion and 4 GW of electricity to supplement solar energy generation.
Calling for the strengthening of ISA secretariat, the Prime Minister said solar energy presents a permanent, affordable and reliable source for meeting energy needs of mankind. As a demonstration of India’s commitment to ISA, Modi said 500 training slots will be created for member countries and a solar technology mission will be started to lead R&D in the sector.
ISA is now a treaty-based inter-governmental organisation that was established following the Paris Declaration as an alliance dedicated to the promotion of solar energy among its member countries.