Published: Thu, March 15, 2018
Worldwide | By Gretchen Simon

Sullivan County solar project completed

Sullivan County solar project completed

With India taking major initiatives to address the climate change issue, the United States has applauded India for its efforts in initiating and inaugurating the International Solar Alliance (ISA). "I am happy to announce that to fill the gap of solar technology, India will start a solar technology mission with global focus, which will cover all government technical and educational institutions", Prime Minister Narendra Modi said, announcing the unprecedented investment.

"India will provide assistance to 15 countries for $1.4 billion".

The Founding Conference was co-chaired by Mr. Modi and French President Emmanuel Macron.

"The imposition of any additional duties would make solar more expensive and potentially scare away financially strapped distribution companies who are looking to procure the cheapest power generation source available", Mercom said. The 2.7-megawatt solar array, located in Sullivan County, is critical to supporting Governor Cuomo's mandate for half of all electricity consumed to come from renewable energy sources by 2030. "We have to increase the share of solar in the energy mix", Mr. Modi said.

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India's solar industry more than doubled its fund raising to $10 billion in 2017, clean energy consultancy Mercom said, but activity is likely to slow this year as New Delhi plans to slap high tariffs on imports. "It is exciting to be a part of enabling utility scale solar in IN". There are financial hurdles, regulations, capacity hurdles as well.

The aim of ISA is to mobilize US $1 trillion in funds for future solar generation, storage, and technology across the world. The largest project acquisition deals included the $600 million acquisition of Hindustan Power Projects' 330 MW solar portfolio by the Macquarie Group and the $300 million acquisition of First Solar's 190 MW project portfolio by IDFC Alternatives. 32 of the 60-member countries in the alliance are from Africa.

In November, state-owned Indian Oil Corp. and online transportation network company Ola said they took a "big leap" toward a greener India with the launch of the country's first-ever electric vehicle charging station in Nagpur, the largest city of central India.

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