India's Solar Financing May Have Peaked For Now at $10B in 2017

International Solar Alliance

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The Alliance is a collaborative platform and a coalition of solar resource rich countries created to address their special energy needs through a common and agreed approach.

"We are taking the lead in advancing affordable renewable energy solutions, as well as in promoting community solar that benefits users and taxpayers simultaneously", he added.

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

23 countries have taken part in an ISA consultation on their priorities in the fields of solar energy for agriculture and rural areas, solar mini-grids, rooftop installations and e-mobility.

The awarded projects-including 22 utility-scale solar farms, three wind farms and one hydroelectric project-are expected to create more than 3,000 short- and long-term jobs, generate enough clean energy to power more than 430,000 homes and reduce carbon emissions by more than 1.6 million metric tons, the equivalent of taking almost 340,000 cars off the road.

Irena project tools and platforms such as the Global Atlas for Renewable Energy, the Project Navigator, and the Sustainable Energy Marketplace will be made available to ISA, a coalition of 120 sun-belt countries launched at the UN Climate Change Conference in Paris in 2015 with the mission of mobilising $1trn for solar energy projects globally.

The report noted that there were no corporate M&A deals in solar during 2017. He said the member countries of the ISA would ensure distribution of finance and expertise. Sixty countries have signed the agreement to join the alliance.

India´s solar push is in part boosted by steadily dropping costs of providing solar energy.

India´s transition to renewable energy - without shutting down its coal-fired power plants - represents a new model for developing countries going forward, Chawla said in a telephone interview.

India´s government also is considering a 70 percent tariff on solar imports to protect India´s solar manufacturers - something that is causing a lot of uncertainty as investors try to bring new solar projects into the country, Buckley said.

"The lower forecast reflects a smaller pipeline of projects scheduled for commissioning in 2018", Mercom said.

As China´s economic growth slows, India´s is heating up, along with its energy demand. "It´s coming straight from the Prime Minister, and the energy minister and the coal minister are very much onboard", he said. "The funding from GCF will complement this effort and help our developing member countries address the effects of climate change and meet their commitments under the Paris climate agreement". "It is India´s offering to the world".

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