India and France unveil global solar alliance of 120 countries at COP21

• 8 years ago (2015-12-01)
• David Flin

Europe 1068 North America 1004 Renewables 757

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India’s Prime Minister Narendra Modi and France’s President François Hollande have launched an international solar alliance of over 120 countries at the Paris COP21 climate change talks.

Modi said: “Solar technology is evolving, costs are coming down, and grid connectivity is improving. The dream of universal access to clean energy is becoming more real. This will be the foundation of the new economy of the new century.”

While signatory nations are mostly from the tropics, several European countries have signed the initiative. Hollande described the project as climate justice in action, mobilising public finance from richer states to help deliver universal energy access.

The Indian Government is investing an initial $30 million in setting up the alliance’s headquarters in India. The goal is to raise $400 million from membership fees and international agencies. Companies involved in the project include Areva, Engie, Enel, HSBC France, and Tata Steel.

India has repeatedly said that it wants to use cheap solar power to connect citizens in remote and rural areas who are currently without access to electricity. Ajay Mathur, India’s Senior Negotiator at COP21, said: “The idea is that larger markets and bigger volumes will lead to lower costs, making it possible to spur demand.”