Dec 01, 2015 (LBO) - India’s prime minister Narendra Modi has launched an international solar alliance of over 120 countries at the Paris COP21 climate summit.
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The conference of world leaders with over 25,000 official delegates is seen as historic and aims to clinch a deal on greenhouse gas emissions.
“India has emerged as the natural leader for this alliance, with its ambitious targets to install 175GW of renewable energy by 2022,” said Arunabha Ghosh, chief executive of the Council for Energy, Environment and Water in India, according to The Guardian.
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India’s pledge to the Paris summit offered to draw 40 percent of its electricity from renewables by 2030. The country is projected to be the world’s most populous by then, with 1.45 billion people.
The Indian government is investing an initial 30 million dollars to set up the alliance’s headquarters in India with a goal of raising 400 million dollars from membership fees, and international agencies.
Companies involved in the project include Areva, Engie, Enel, HSBC France and Tata Steel.
“The idea is that larger markets and bigger volumes will lead to lower costs, making it possible to spur demand,” Ajay Mathur, India’s senior negotiator and spokesperson at the Paris summit, said.
Dubai announced a 27 billion dollar programme on Sunday to make solar panels mandatory for all rooftop buildings by 2030, part of a plan to make the city a global clean energy centre.
Dubai aims to generate 25% of its energy from clean sources by 2030, rising to 75% by 2050.
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