Modi eyes big Africa push through aid to counter China presence.
Prime Minister Narendra Modi said Sunday called for global solar revolution and said that to combat climate change, we need to look back at Vedas.
Speaking alongside Prime Minister Narendra Modi at the founding conference of the International Solar Alliance (ISA), he said there are financing and regulation hurdles for achieving the target which need to be cleared by government, private sector and civil society coming together.
"We have to make sure that a better and cost effective solar technology is available to all", Modi told the gathering of investors and world leaders from about 20 mainly African nations.
"I am happy to announce that to fill the solar gap, India will launch a Solar Technology Mission".
Conceptualised by India, the solar alliance now has 121 member countries.
The remaining four projects are in India's neighbourhood of which two each are in Bangladesh (worth a total of $180 million) and Sri Lanka ($100 million). "With ISA Summit, we bring capabilities closer to needs", he said in a tweet. It was an outreach to countries of the global south to fill the crucial demand for affordable, reliable, clean energy crucial to improving living standards and way out of poverty for millions. The US$ 1.4 billion will be part of the US$ 2 billion under the Indian LoC that will be allocated and in turn part of the $10 billion for development projects overseas that have been "pledged" by New Delhi earlier.
"This is line with Prime Minister's own initiative for India to take the lead internationally", he said.
Of the member nations, 60 have signed the treaty and about 30 nations have ratified it.
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Without taking US President Donald Trump's name, Macron said that while some left the climate.
"They (ISA member nations) started to act and to deliver complete results. We will have to provide concessional financing and low-risk finance for solar projects", PM Modi said. "They chose to act and keep acting, and that's why we are here, in order to act very concretely", Macron said. "We should make the ISA Secretariat strong and professional", he asserted.
Ahead of the conference, he tweeted, "We have not come from all the continents to deliver speeches that will soon be forgotten". He said the member countries of the ISA would ensure distribution of finance and expertise. "The solar ratio in the energy mix should be increased and innovation should be encouraged so that solutions for our various needs can be provided", he said.
"We know the hurdles".
"We have prepared facilities for project preparation which will give consultancy support for bankable projects to countries".
"Because they decided it was good for them, for their children, their grandchildren".
PM Modi also praised France, saying it had played an "important role" in the ISA. From Japan to Peru, be it Greece or Rome, Egypt, Incas and the ancient Mayan culture, every civilisation has glorified and given importance to the sun.
The utility electricity sector in India has one National Grid that has an installed capacity if 335-gigawatt renewable power plants.
France and India are likely to sign a technology transfer agreement on solar energy at the ISA summit.
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