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France Commits 700 Million Euros for Solar Projects Worldwide

13 March 2018

India stepped up efforts at positioning itself as a global climate leader at the first conference of the International Solar Alliance (ISA) Sunday, with Prime Minister Narendra Modi pledging to generate 175 gigawatts (GW) of electricity from renewable energy sources by 2022, including 100 GW from solar and 60 GW from wind.

He lauded India's solar commitments that has 20 GW installed solar capacity - one of the fastest growing in the world.

Speaking at the conference, which India co-hosted with France, the Prime Minister also referred to the Vedas. There was an absence of universal energy access; energy equity and affordability are issues common to most of the solar resource rich countries.

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Adding to this External Affairs Secretary (Economic Relations) T S Tirumurthi said, "All of them (US and China) have taken part very actively in the steering committee proceedings. They didn't wait, they didn't stop because few countries chose to just leave the floor and the Paris agreement", Macron said.

The French president has pledged hundreds of millions for solar projects in developing countries at the International Solar Alliance summit in New Delhi.

Both Macron and Modi have doubled down on their climate efforts in response to Trump's decision to pull the USA out of the 2015 Paris agreement. They began to act and achieve concrete results.

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The head of France, Emmanuel Macron, delivered a slam on Sunday aimed at the President for the United state of america, Donald Trump, for dropping out of the climate accord in Paris. The archipelago in the western Indian Ocean achieved the status as it was among the first 15 countries to ratify the ISA Agreement at the Conference of the Parties (COP21) in Paris in 2015.

Without directly mentioning Trump, Macron praised the "solar mamas", a group of women trained as solar engineers, saying that the women had continued their mission to promote solar energy even after "some countries decided just to leave the floor and leave the Paris Agreement". Additionally, over the last 7 years, 50% of the EIB's solar investment was located in developing and emerging economies, financing projects in Africa in Morocco, South Africa, and Burkina Faso; across Latin America in Nicaragua and Peru; in Asia in India and Vietnam; and Turkey and Israel. Of these, 61 have signed the framework agreement and 32 have also submitted their instruments of ratification.

The Joint Declaration affirms the commitment of the IRENA and ISA to collaborate on advancing solar deployment and projects through helping countries develop policies and regulations around solar energy and through the implementation of IRENA initiatives such as the Clean Energy Corridors and the SIDS Lighthouses.

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On Saturday, India had stated that ISA "is planning to get all the multilateral development banks to support" the cause and increasingly ISA is "appealing to these development banks if they could set aside a particular percentage of their loan portfolio to fund renewable energy projects worldwide".

France Commits 700 Million Euros for Solar Projects Worldwide