India, France Launch Solar Alliance, Promise Funds

Indo-French Business Relations  |   | The Asian Age

New Delhi: Declaring that India wanted a solar revolution not just in the country but across the world and announcing the establishment of a “Solar Techn-ology Mission”, Prime Minister Narendra Modi on Sunday announced the allocation of $1.4 billion as part of India’s Line of Credit (LoC) for 27 solar projects in 15 developing countries. 

Prime Minister Modi and French President Emmanuel Macron co-chaired the founding conference of the International Solar Alliance (ISA) in the Capital that is being attended by over 20 heads and deputy heads of government, a majority of them African.

In his speech, PM Modi said, “We want a solar revolution not just in India but the world... India will begin the solar technology mission to bridge the gap in solar technology.”

The ministry of external affairs (MEA) later said India had “taken the lead internationally”. The solar projects pertain to energy for infrastructure such as health centres, high schools, hand-pump boreholes, power plants, street-lighting projects and drinking water-supply located in countries such as Benin, Burkina Faso, Chad, Congo, Ghana, Mali, Guinea, Niger, Nigeria, Seychelles and Rwanda A total of 32 countries have both signed and ratified the agreement while another 30 have just signed but not ratified it as yet

Announcing financial assistance too, Mr Macron said that the French Development Agency will allocate 700 million euros in additional spending to its commitment to solar energy by 2022, taking the total commitment to 1 billion euros.  

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