Speaking at a business outreach programme for solar projects under India's lines of credit (LoCs), Singh said that countries between the Tropics of Cancer and Capricorn have great potential for solar energy
VK Singh
Declaring that India is ready to help countries meet their energy needs, Minister of State for External Affairs V.K. Singh said on Tuesday that the India-initiated International Solar Alliance (ISA) can act as a forum for sharing experiences and technology.
Speaking at a business outreach programme for solar projects under India's lines of credit (LoCs), Singh said that countries between the Tropics of Cancer and Capricorn have great potential for solar energy.
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"From being an idea and a dream, the ISA has now become a reality," he said.
Launched by Prime Minister Narendra Modi and then French President Francois Hollande at the Paris climate summit in 2015, ISA was conceived as a coalition of solar resource-rich countries to address their special energy needs and provide a platform to collaborate on dealing with the identified gaps through a common, agreed approach.
It is open to all 121 prospective member countries falling between the Tropics of Cancer and Capricorn.
Singh said that till now 68 nations have become signatories to the ISA of which 40 have ratified the framework agreement.
Observing that solar energy has improved by leaps and bounds, he said that India has targeted 175 GW of renewable energy of which 100 GW is solar energy.
"We have already attained 20 GW of solar energy," the Minister said.
Pointing out that solar energy technology has not yet reached its peak, he said: "ISA provides a forum where we all can share our experiences and technology related to solar energy. From our side, we are ensuring that countries can take our help to meet their energy needs."
Singh also said that India has extended 262 concessional LoCs totalling around $25.7 billion for solar projects in 61 countries in Africa, Southeast Asia, Latin America and the Caribbean region.
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