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DEC 02 2015

India Inc hails International Solar Alliance

  • Economic Times, ET Bureau / Hyderabad
  • Created: Wed 02nd DEC 2015

Industry experts today hailed the International Solar Alliance (ISA) of over 120 countries, launched at the Global Climate Summit in Paris, saying the initiative will give much needed boost to a low-carbon future.

To boost solar energy in developing nations, Prime Minister Narendra Modi had yesterday unveiled an International Solar Alliance with French President Francois Hollande at the Paris COP21 climate summit.

Welcoming the development, Ficci President Jyotsna Suri said: "The international solar alliance is a unique initiative that could prove instrumental in helping India realise the ambitious 100 GW solar target in next six years and provide energy access to over 75 million unelectrified households under the "24x7 Power for All initiative".

Council on Energy, Environment and Water (CEEW) CEO Arunabha Ghosh said, "ISA is a historic step for global cooperation and a much needed boost for a low-carbon future."

India has emerged as the natural leader for this alliance, with its ambitious targets to install 175 GW of renewable energy by 2022, and non-fossil fuel electricity generating systems accounting for 40 per cent of the cumulative installed capacity by 2030, he said in a statement.

Under India's leadership, the ISA could inspire and support several developed and developing countries to advance on a clean energy pathway by lowering financing costs, developing common standards, encouraging knowledge sharing and facilitating R&D collaborations and co-development of technologies to meet the Sustainable Development Goals (SDGs) announced earlier this year, he added.

Sharing similar views, Natural Resources Defense Council President Rhea Suh said: "It has the potential to propel international solar markets forward, all while fighting climate change, improving global health and boosting economies."

Tags

Renewable Energy Solar Energy FICCI Clean Energy Energy Fossil Fuel Power Electricity India Solar

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