Modi and Hollande to launch global Solar Alliance at COP21

November 30, 2015
Facebook
Twitter
LinkedIn
Reddit
Email

Indian prime minister and French president Francois Hollande will jointly launch the International Solar Alliance (ISA) at the COP21 climate conference in Paris today.

The proposed alliance, also named International Agency for Solar Technologies and Applications (IASTA), is aiming to have over 100 countries join, including US, China and France as well as countries situated between the Tropics of Cancer and Capricorn.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

It will focus on giving momentum to solar energy policies, increasing cooperation over best and new technologies and bringing faster cost reductions.

As India will spearhead the Alliance, it marks a move from Modi to bring India forward on the world stage of renewable energy on top of his already highly ambitious targets of 175GW of renewable capacity by 2022.

Jai Sharda, managing partner, Equitorial Research, a financial research firm based in India, said that foreign loans are less costly that loans from domestic sources in India, however, high hedging costs make these foreign loans more expensive.

He added: “Innovative low cost hedging instruments can help foreign loans become cheaper. Cheaper loans would translate into further reduction in the cost of solar power in India.

“The proposed solar alliance may help by permitting effective exploitation of economies of scale and comparative advantages of different countries in research and development, manufacturing, innovation and finance, while also allowing them to access technology and best practices from each other.”

Tim Buckley, director of energy finance studies, Australasia at the Institute for Energy Economics and Financial Analysis (IEEFA), said: ‘’Till now, most of the foreign investments have come into India from private sources. Only around US$0.5 billion has come in through official channels, multi-lateral and bi-lateral financing agencies. Enhancement of flows from this channel will further boost the efforts of private enterprise, and the adoption of green power in India.”

Other commentators said the Solar Alliance would support developing countries in adopting renewable energy through knowledge sharing and a reduction in costs.

In the backdrop of these optimistic announcements at COP21, PV Tech also reported today that there are “severe delays” in the signing of PPAs for capacity awarded to many developers in the 2GW solar auction in Telangana.

Read Next

October 16, 2025
Jakson Green and Blueleaf Energy have reached financial close for the 840MWp Bikaner solar projects in Rajasthan, western India. 
October 15, 2025
Wood Mackenzie has warned of a supply bottleneck as the renewable energy shift drives a spike in global copper demand over the next decade.
October 15, 2025
Ciel & Terre has launched a new floating PV structure designed to address the increasingly large scale of floating solar projects.
October 15, 2025
Indian module manufacturer Saatvik Green Energy, through its subsidiary Saatvik Solar Industries, has secured solar PV module orders worth INR6.89 billion (US$78 million).
October 14, 2025
India has installed 4.9GW of residential rooftop solar capacity in the first half of 2025, according to a report by IEEFA and JMK Research.
October 10, 2025
NTPC Renewable Energy Limited has signed an MoU with the Government of Gujarat to develop 15GW renewable energy projects in Gujarat.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany