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

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

French energy company ENGIE said Monday it was expanding its presence in the renewable energy sector in India, one of the world's fastest growing economies.

"The International Solar Alliance has a well-articulated goal to facilitate the mobilisation of Dollars 1 trillion of capital to rapidly accelerate the adoption of solar energy all over the world", said Upendra Tripathy, Interim Director-General of the International Solar Alliance.

"Our solar mamas did not wait for us", he said, referring to a group of women solar engineers.

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.

New York State Governor Andrew Cuomo announced approval last week for 26 large-scale renewable energy projects, including 22 solar projects worth 647 megawatts (MW) and 733.58 MW worth of wind energy.

"This signing is an important milestone for the Bank in its efforts to lead the continent's transformation towards sustainable energy, through the use of solar technologies, and in its bid to reach universal access to energy in Africa".

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The partnership agreement was sealed on the margins of the Founding Conference of the International Solar Alliance (ISA) held in New Delhi on March 11.

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. He also revealed that ISA has to date secured 60 signatories and 30 parties already had ratified solar alliance. The International Solar Alliance is a non-profit, treaty-based organization comprised of some 121 countries.

Prime Minister Narendra Modi President Macron will jointly inaugurate a solar plant in Mirzapur district of Uttar Pradesh today. The conference was attended by 23 heads of states and governments from all over the world, including Mr. Modi and Mr. Macron.

According to a report by Live Mint, the 75 MW solar plant is built at a cost of around Rs500 crore by French firm Engie at Dadar Kalan village on the hilly terrain of the Vindhyas range.

ISA member countries undertake to amalgamate and harmonise their requests for finance, technologies and innovation to create a common market in order to lower costs, strengthen quality control, better adapt products to needs and improve technologies. Around 1,18,600 solar panels have been set up in over 380 acres.

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