Oscarline Onwuemenyi 09 December 2015, Sweetcrude, Abuja – The Nigerian government and several other countries have unveiled an ambitious solar alliance that plans $100 billion investments in widespread solar projects and infrastructure that are needed by 2030.
The partnership with over 120 countries between the Tropics of Cancer and Capricorn in the International Solar Alliance, ISA, include some African and Asian nations, Australia, New Zealand, Brazil, France, China and the United States. It is to advance a low-carbon economy powered substantially by clean energy.
The widely anticipated initiative, was conceived by the Indian Prime Minister, Narendra Modi, and jointly launched by President François Hollande and Modi in the presence of the UN Secretary General, Mr. Ban Ki-Moon at the recent international climate summit in Paris.
Under the initiative, the Indian government is investing an initial $30 million in setting up the alliance’s headquarters in India. The eventual goal is to raise $400 million from membership fees, and international agencies. Companies involved in the project include Areva, Engie, Enel, HSBC France and Tata Steel.
In their declaration, the countries said, “the objective to significantly augment solar power generation in our countries, we intend making joint efforts through innovative policies, projects, programmes, capacity building measures and financial instruments to mobilize more than $100 billion of investments that are needed by 2030 for the massive deployment of affordable solar energy.
“We intend to work together towards the development of appropriate benchmarks, facilitating resource assessments, supporting research and development and demonstration facilities, with a view to encouraging innovative and affordable applications of solar technologies”.