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PM Modi Calls for Democratizing Solar Manufacturing and Technology at International Solar Festival 2024
In his address at the inauguration , said, " India is committed to supporting the world, particularly the Global South, in advancing an inclusive and sustainable future, drawing on its success in clean energy initiatives. The festival reflects India's commitment to a sustainable future, inspiring collective action toward an energy transition, led by the government, youth, communities, and the private sector."
growth globally, stating, "Our mission is to make solar the foundation for a prosperous and sustainable planet. Solar's robust year-on-year growth is driving economic upliftment and global transformation. However, investments remain concentrated in a few countries, and expanding access to solar energy globally is critical."
At the sidelines of the festival, the ISA announced that it has entered into The ASF is a $200 million initiative designed to unlock investment in distributed solar projects across Africa . By offering tailor-made and cost-effective financing solutions, the facility aims to bridge the gap in a currently underserved market, where smaller project sizes and high perceived risks have hindered solar investment.
commended the ISA for aiding solar energy development in rural areas through regulatory support and capacity building.
highlighted the ISA's role in achieving 30% solar energy by 2030, vital for climate-vulnerable Small Island Developing States like
Mauritius .
The inauguration was also addressed by the ; and , representing France's co-presidency of the ISA.
The International Solar Festival 2024 sets a pivotal milestone in the global journey towards an inclusive, solar-powered future. Convening heads of State, diplomats, business and community leaders, youth, and experts, the festival has catalyzed stronger collaboration and innovative financial mechanisms to ensure solar energy reaches underserved regions.
View original content: https://www.prnewswire.co.uk/news-releases/pm-modi-calls-for-democratizing-solar-manufacturing-and-technology-at-international-solar-festival-2024-302241812.html