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NDB, ISA tie up to promote solar energy

NDB, ISA tie up to promote solar energy”

"On March 10 2018, the New Development Bank (NDB) and International Solar Alliance (ISA) signed in New Delhi, India a Joint Declaration for the Promotion of Solar Energy Globally", an NDB statement said.

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 U.S. state, which is worth $1.4 billion, and approved 26 large-scale renewable energy projects across New York.

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.

"We are taking the lead in advancing affordable renewable energy solutions, as well as in promoting community solar that benefits users and taxpayers simultaneously", he added.

The solar energy sector, facing a challenge of funding, received considerable support at the conference. Mr. Macron, while pointing to the withdrawal of the US from the Paris Agreement on climate change, praised those who stayed the course to support the solar power on a global scale. According to the Annual India Solar Market Update report released by Mercom Capital Group, project financing in 2017 rose to about $6.4 billion on the back of 9.6 GW in solar installations, compared to $3.5 billion and 4 GW in 2016.

"We know the hurdles".

Governor Cuomo also announced at New York University that the state is seeking an exemption from the National Outer Continental Shelf Oil and Gas Leasing Program (National OCS Program) which was announced earlier this year by US Secretary of the Interior Ryan Zinke.

Mr Macron is heading to Mirzapur where he will inaugurate a 100 MW solar power project on Monday. He said the member countries of the ISA would ensure distribution of finance and expertise.

At least 23 heads of states and governments from all over the world attended the conference.



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