AfDB signs deal to scale up solar energy development

Adjust Comment Print

Speaking at New York University last week, New York State Governor Andrew Cuomo - joined by former Vice President Al Gore - announced the single-largest commitment to renewable energy by any USA state, which is worth $1.4 billion, and approved 26 large-scale renewable energy projects across New York.

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.

France will spend an extra €700 million euros ($862m) by 2022 to help developing countries with their solar energy projects, president Emmanuel Macron said on Sunday.

India aims for renewable energy to make up 40 percent of installed power capacity by 2030, compared with 18.2 percent at the end of 2017, and the ministry of new and renewable energy said in January it was looking to address issues facing solar companies.

More news: Hawking, the greatest physicist since Einstein, never won the Nobel
More news: This Is Us season 2 finale recap: 'The Wedding'
More news: Europe, US senator push back as Trump seeks lower European Union tariffs

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. He also mentioned that his country will commit €1 billion to the alliance, through the French Development Agency. "This Sullivan County project will deliver energy savings to residents throughout the Mid-Hudson Valley region, while supporting the establishment of a cleaner, greener NY for all". "In this context, [we] stand ready to work with ISA and its members to scale-up solar energy deployment as a means to expanding affordable, reliable and sustainable energy access, as well as to addressing climate and energy security concerns". It acquired the state of worldwide organisation in December past year. He also revealed that ISA has to date secured 60 signatories and 30 parties already had ratified solar alliance.

The ISA initiative was launched at the United Nations climate change conference in Paris in November 2015, by Prime Minister Narendra Modi and former French President Francois Hollande.

Prime Minister Narendra Modi President Macron will jointly inaugurate a solar plant in Mirzapur district of Uttar Pradesh today.

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. Macron said member countries made up three-fourths of the world population, PTI reported.