India-led Alliance to Fund Africa's Solar Projects
An alliance of countries advocating for increased use of solar power globally is about to declare the allocation of around $35 million for rooftop installations and small grids, primarily in Africa, according to the group's director general. During the International Solar Alliance's annual meeting in New Delhi, Ajay Mathur stated that the organisation anticipates the Indian government investing $25 million in addition to its own $10 million funding for smaller solar power facilities.
At the conference, which runs till, representatives from 116 countries are debating how to use solar power to increase the use of sustainable energy and decrease dependency on fossil fuels that warm the world. Members of the ISA include the United States, France, Germany, the United Kingdom, and over thirty African nations. The partnership currently does not include China, the global leader in solar energy. The alliance's financing mechanism, known as the Global Solar Facility, aims to gather $100 million to help install solar projects around the world, according to India's electricity minister and ISA president, R. K. Singh.
Africa "has not been able to leverage its potential" in terms of solar power due to a lack of investment to date. According to Singh, the alliance's main goal is to switch the 733 million people who live without power in the world to renewable energy sources. Then, "we are certain investments will start flowing into Africa", he stated during a press conference. He went on to say that one of the main topics of discussion at the next United Nations climate summit, which is set to start in Dubai in one month, will be the exponential growth of renewable energy capacity worldwide.