ADB, ISA Commit to Promote Solar Energy in Asia and Pacific Region

ADB, ISA Commit to Promote Solar Energy in Asia and Pacific Region

ADB, ISA Commit to Promote Solar Energy in Asia and Pacific Region

The founding conference of ISA is being co-chaired by Indian prime minister Narendra Modi and French president Emmanuel Macron in New Delhi, with delegates including heads of state and government, ministers, chief executives of worldwide organisations and other high-level officials.

Susantono said: "ADB's energy policy commits $3bn per year by 2020 for promoting clean energy, including solar energy projects in its developing member countries".

NY governor Andrew M Cuomo on Friday awarded contracts to 26 large-scale renewable energy projects totalling 1,383.09 MW, making the largest single investment in renewables by а U.S. state.

A report from General Electric, which has operations in both renewable and conventional energy resources, said the Indian government has ambitious plans to boost oil and gas production, but has fallen short of its goals in the past.

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Now, in partnership with France, India wants to take its growing resources and knowledge on solar power and use it to help other sunny countries jumpstart their solar ambitions as well. For developing countries, solar energy represents a promising opportunity to become more energy independent.

But what the renewable energy future holds for the South Asian giant will be critical for the world, climate change experts say.

In Tajikistan, a GCF grant of $5 million, combined with an equivalent grant from ADB, will support capacity building of the national weather forecasting entity, the State Agency for Hydrometeorology, to produce timely and accurate forecasting of climate-related extreme weather events. "In India, the sun was thought of as the nurturer of all life", Modi said at the launch of the International Solar Alliance (ISA). "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".

The ISA is the outcome of an idea Mr Modi presented at the United Nations Climate Change Conference in Paris in 2015 and envisages the involvement of 121 countries situated (fully or partially) between the Tropics of Cancer and Capricorn - essentially Earth's "sunbelt".

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He also called for concessional financing and less-risky funds for solar projects to raise the share of solar power in the energy basket, provide cheaper electricity and cut carbon emissions.

In support of the deployment of solar power, Prime Minister Modi and President Macron also jointly inaugurated a 75-megawatt (MW) solar plant built by a French company in the Indian state of Uttar Pradesh.

Progress is clearly happening quickly: During 2017 alone, India doubled its installed solar capacity from 10 GW to 20 GW. Macron said member countries made up three-fourths of the world population, PTI reported. Around 1,18,600 solar panels have been set up in over 380 acres.

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