India's Solar Financing May Have Peaked For Now at $10B in 2017

The basics of International Solar Alliance

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 global organisations and other high-level officials.

In a major boost for its Light up and power Africa initiative, the African Development Bank has entered into partnership with the International Solar Alliance (ISA) to scale up solar energy in Africa.

"Using our high-performance Series 6 thin-film modules and a plant design approach tailored to utility ownership values, we will contribute significantly to Vectren's commitment to deliver clean, reliable and reasonably priced energy to its customers", says Eran Mahrer, vice president of markets, origination and government affairs for First Solar.

"The imposition of any additional duties would make solar more expensive and potentially scare away financially strapped distribution companies who are looking to procure the cheapest power generation source available", Mercom said.

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.

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

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The International Solar Alliance is a treaty based inter-governmental alliance of 121 sunshine-rich countries that lie fully or partially between the Tropics of Cancer and Capricorn.

According to Economic Times, President Macron said that there are financing and regulation hurdles for achieving the target which need to be cleared by government, private sector and civil society coming together.

"India would have to build on average 35 gigawatts of renewable energy per year for the next five years".

The solar energy sector, facing a challenge of funding, received considerable support at the conference.

Prime Minister Narendra Modi President Macron will jointly inaugurate a solar plant in Mirzapur district of Uttar Pradesh today. He said the member countries of the ISA would ensure distribution of finance and expertise.

The conference is being attended by heads of 23 nations and 10 ministerial representatives of different countries, besides heads of UN dignitaries, presidents of multilateral development banks, heads of global funds and financial institutions and energy-related institutions. Around 1,18,600 solar panels have been set up in over 380 acres.

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