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Online Classes :- Current Affairs Part-3

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PM Modi, French President inaugurate International Solar Alliance

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India and France co-hosted the first International Solar Alliance summit in New Delhi today. President Ram Nath Kovind co-hosted the summit with French President Emmanuel Macron at the Rashtrapati Bhavan. Prime Minister Narendra Modi and President Macron inaugurated the summit. The International Solar Alliance is a treaty based international inter-governmental alliance of 121 solar resource rich countries lying fully or partially between the Tropics of Cancer and Capricorn. The aim of the alliance is to promote solar energy and reduce the use of fossil fuels in sunshine-rich countries. The summit will focus on various aspects of promoting solar energy, such as credit mechanism, crowd funding and sharing of technological breakthroughs, in 121 countries associated with ISA. The alliance, backed by the World Bank, has aimed at mobilising $1 trillion for International Solar Alliance projects needed by 2030 for massive deployment of solar energy. 23 heads of state, senior representatives of many countries, including deputy prime ministers and energy ministries are attending today’s summit. Various projects being prepared by different countries in areas including rural electrification, off grid solar power, water supply and irrigation are being discussed. India, which founded the International Solar Alliance backed by France after the Paris accord on climate change, has set an ambitious target for itself – of having 100 GW of solar energy capacities by 2022. India is already close to achieving 20 GW in the current fiscal and plans to auction 30 GW solar projects each in 2018-19 and 2019-20.

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