France to commit €700m to solar energy group


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 agreement, according to the statement, was sealed on the margins of the just ended conference of the ISA held in New Delhi, India and co-chaired by Indian Prime Minister Narendra Modi and French President Emmanuel Macron of France.

Sixty countries have signed the agreement to join the alliance which was formally launched jointly by India and France last Sunday in New Delhi.

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A report from General Electric, which has operations in both renewable and conventional energy resources, said the Indian government has ambitious plans to boost oil and gas production, but has fallen short of its goals in the past.

The objectives of ISA are to: (1) significantly reduce the costs of solar energy, (2) meet the high energy demand in developing countries, and (3) combat climate change.

A party to the multilateral Paris climate agreement, India has set a goal of reducing its emissions by about 20 percent below 2005 levels by 2020.

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"Orion wishes to thank the landowners, the Spencer County Council, and the Lincolnland Economic Development Corp. for their support of the project", notes Tim Lasocki, vice president of origination and finance for Orion. It acquired the state of worldwide organisation in December previous year. To date, 121 countries are involved in the International Solar Alliance. "Achieving 50% of New York's electricity from renewable sources by 2030 is a cornerstone of Governor Cuomo's nation-leading agenda to fight climate change, and I look forward to watching these projects create jobs, expand our clean energy economy and provide New Yorkers with clean, reliable power for decades". "While solar is fast becoming one of the most cost-effective ways to generate new power and deliver energy access, to deploy fast enough, complementarity must exist between our work and the broader renewable energy mandate and development tools established by IRENA".

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

Progress is clearly happening quickly: During 2017 alone, India doubled its installed solar capacity from 10 GW to 20 GW.

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Thirty-two (32) of the ISA's 60-member countries are from Africa. Power would be transmitted to Jigna sub-station of Mirzapur range of Uttar Pradesh Power Corporation Ltd, officials said.