Narendra Modi calls for concessional, less-risky financing for solar projects

Delhi to Witness Heavy Traffic During International Solar Alliance Summit, Over 40 Routes to be Affected in Central Delhi

Speaking at the launch of the first International Solar Alliance (ISA) summit, Macron called for "joint duties" towards a "planet that we are sharing" and took a dig at his United States counterpart Donald Trump who pulled out of the 2015 Paris climate deal.

It is aimed at realising "the common goals of increasing the use of solar energy in meeting the energy needs of ISA member countries in a safe, convenient, affordable, equitable and sustainable manner".

"We have not come from all continents to deliver speeches that soon be forgotten".

With French President Emmanuel Macron by his side at the meet held at Rashtrapati Bhavan Cultural Centre, Modi said there should be a full ecosystem for availability and development of technology, economic resources, development of storage technology, mass manufacturing and innovation.

Head of states and governments as well as ministers of members countries, who have been participating in the ISA' conference, formally inaugurated the plenary session of the summit at around 10:30am local time. Nevertheless, we should not forget to conserve environment for the benefit of our future generations.

Besides, PM Modi also presented 10 action points to enhance solar productivity. "They didn't wait, they didn't stop because few countries made a decision to just leave the floor and the Paris agreement", he said.

The prime minister stressed on the need to make the ISA secretariat "strong and professional".

India will contribute $27 million to the ISA for creating the corpus, building infrastructure and recurring expenditure over a five-year duration from 2016-17 to 2020-21.

Prime Minister Narendra Modi has set a target of achieving 100 GW (gigawatt) of solar power by 2022, out of the total 175 GW the country plans to produce from renewable sources.

India has already provided assistance worth $143 million for 13 solar projects that have been completed or in stages of implementation across the world. The line of credit is for a tenure of 15 years including a grace period of three years, and it will be used for financing renewable energy and energy efficiency projects in India. These solar projects are in Bangladesh, Mali, Seychelles, Tanzania, Mali, Rwanda, Nigeria, Ghana, Guinea. "I am also pleased to announce that India will start a Solar Technology Mission which will have worldwide focus", the prime minister said. "Today, when we are looking for a way to tackle the challenges of climate change, we have to look at the balanced and holistic view of India's ancient philosophy", he said. Vivan Sharan, partner, Koan advisory group, said, "Our National Solar Mission has gone stagnant; there is no grid parity and tariff is still a crucial concern". And that it was looking at collaborations, and not handouts or aid, to make the transition. It was an outreach to countries of the global south to fill the crucial demand for affordable, reliable, clean energy crucial to improving living standards and way out of poverty for millions. "We need a new worldwide deal with the private sector, the global public sector and the civil society as well". They chose to act and keep acting, and that's why we are here, in order to act very concretely. The Solar Mamas is a group of African women trained at the Barefoot College, Tilonia, Rajasthan, in fabrication, installation, use, fix and maintenance of solar lanterns and household solar lighting under Government of India supported programmes. "They didn't wait and they didn't stop because some countries decided just to leave the floor and leave the Paris agreement". "They chose to act and keep acting, and that's why we are here, in order to act very concretely", Macron said. "That's why we are here in order to act very concretely".

The declaration was signed on the occasion of the founding conference of ISA in New Delhi by Irena director general Adnan Z Amin, and Upendra Tripathy, the Interim Director General of ISA.

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