Solar Alliance of 120 Countries Unveiled at COP21
An international solar alliance including more than 120 countries was launched in an announcement made by India’s prime minister Narendra Modi and French president, Francois Hollande, at the COP21 climate conference in Paris on Tuesday.
The majority of the signatory nations are based in the tropics, where solar solutions should have the greatest potential, both in terms of the energy production and potential economics.
The Indian government has declared its intention to invest an initial $30m in setting up the alliance. The group intends to raise $400m in total. Modi accompanied the announcement by declaring that India will draw 40% of its electricity from renewable energy by 2030.
Neither the size of the investment, nor India’s 40% target stand out in today’s renewable energy context and that is significant as a reflection of how far renewables have come. International coalitions and alliances supporting investment and technological development in areas like solar can only be positive.