India and France lead $1 Trillion Solar investment drive
At the United Nations in New York, Indian Power, Coal and Renewable Energy Minister Piyush Goyal and French Environment Minister and President of COP 21 Ségolène Royal co-hosted an event on the International Solar Alliance (ISA), launched by India and France at the UN Climate Change Conference in Paris last December.
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- Photo credit: Ségolène Royal (Twitter)
New York, 25 April 2016
In order to accelerate massive deployment of solar energy at various scales in their countries, ministers and representative from 25 countries agreed to take concerted action through targeted programmes launched on a voluntary basis, to better harmonize and aggregate the demand for:
- Solar finance, so as to lower the cost of finance and facilitate the flow of more than USD 1000 billion investment in solar assets in member countries;
- Mature solar technologies that are currently deployed only at small scale and need to be scaled up;
- Future solar technologies and capacity building, through strategic and collaborative solar R&D, to improve the efficiency and integration of solar power as well as increase the number of solar applications available.
The 25 countries represented at the event included Bangladesh, Brazil, Ethiopia, Namibia, Uganda, Nigeria, Peru, Djibouti, Surinam, Zambia, Bolivia, Seychelles, Sri Lanka, Mali, India, USA and France.
- French and Indian ministers co-hosted an event on the International Solar Alliance (ISA), launched by India and France at the UN Climate Change Conference in Paris last December.
- International Solar Alliance - Programme “Affordable Finance at Scale”
- International Solar Alliance - Programme “Scaling solar applications for agricultural use”