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India congratulates Egypt for joining ISA

Press Trust of India  |  Cairo 

today congratulated for signing the framework agreement of the International Solar Alliance, a treaty-based global body for promotion of solar in alliance with 121 countries.

and are co-hosting the first (ISA) Summit to be held in tomorrow to promote solar

The summit will be attended by the heads of state from 23 nations, including France, and

India's to congratulated Egyptian who signed the framework agreement at a ceremony held at his office today.

"Over 61 countries have joined the ISA and will participate at the Founding Conference of ISA in tomorrow," Bhattacharyya said.

He said with joining the ISA, there will be growing opportunities for cooperation in the field of solar projects, including in the financing of projects in Egypt under India's Line of Credit (LOC) programme.

"There can be cooperation for projects in Arab countries and Africa," Bhattacharyya said.

ISA is aimed at increasing the use of renewable energy, especially solar energy, to address the issues faced by climate change.

The primary objective of the alliance is to work for efficient exploitation of solar to reduce dependence on fossil fuels.

The initiative was launched by at the Summit, and a meeting of member countries ahead of the 2015 Climate Change Conference in in November 2015.

India has set an ambitious target of having 100 GW of capacities by 2022. It is close to achieving 20 GW in the current fiscal itself and plans to auction 30 GW solar projects each in 2018-19 and 2019-20.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, March 10 2018. 20:25 IST