Monday, 25 January 2016

France and India forge global solar alliance to mobilise $1trnBy Andrew Lee, Recharge News, December 01 2015

Indian PV could hold the biggest potential opportunities for international investors in Asia

India wants to install 100GW of PV by 2022

French president Francois Hollande and his Indian counterpart Narendra Modi said they have secured the support of about 120 countries for the new group, which will “undertake innovative and concerted efforts with a view to reducing the cost of finance and cost of technology for immediate deployment of competitive solar generation assets”.
The body will work to promote common approaches over R&D, standards and training, with a view to technology transfer from wealthier to poorer nations, especially in Africa.
In India the ISA will have a founding member with some of the world’s biggest solar ambitions. The country aims to install 100GW of PV by 2022, and itself needs hundreds of billions of dollars of investments to hit its targets.
Launching the Franco-Indian alliance at the COP21 climate summit in Paris, Modi said the country will add 12GW of solar in 2016 alone.
Modi said solar is the perfect fit for the situation that “the vast majority of humanity is blessed with generous sunlight round the year. Yet, many are also without any source of power”.
Modi added: "As you put clean energy within the reach of all, it will create unlimited economic opportunities that will be the foundation of the new economy of this century.
“This is an alliance that brings together developed and developing countries, governments and industries, laboratories and institutions, in a common enterprise.”
France cited the potential role for some of its major renewables groups, including Engie, DualSun, and oil and gas giant Total, which owns US-based PV manufacturer SunPower.
The two governments will provide funding – $30m over five years in the case of India – and facilities for the new organisation, which will be based at India’s National Institute of Solar Energy.
The launch was welcomed by European solar industry body Solar Power Europe. Its CEO James Watson said: “We commend Prime Minister Modi and India as a whole for spearheading this collaborative initiative, which recognises solar as a key solution to fight climate change whilst providing clean and affordable energy to millions of people."

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