SOLAR PROJECTS: Affordable Funding in India

Solar Power generation projects are huge capital-intensive long-term environment friendly projects and implemented across the world in accordance with International Solar Alliance (ISA).

- CA Yogesh Birla

ISA is an alliance of more than 120 countries, sitting together as signatory for green energy generation. The primary objective of the alliance is to work for the efficient consumption of solar energy to reduce dependence on fossil fuels. The alliance is a treaty-based inter-governmental organization across solar zone Countries. The alliance partnered with World Bank at the World Future Energy Summit in Abu Dhabi.

India, with the support of France, invited multiple nations, such as the United States, Japan and Brazil, to facilitate the infrastructure for the implementation of solar projects. During year 2016, the alliance entered into an understanding with the World Bank for accelerating mobilization of finance for solar energy. The Bank will have a major role in mobilizing more than US$1 trillion in investments that will be needed by 2030, to meet

ISA's goals for the massive deployment of affordable solar energy. As of year 2023, the Framework Agreement of the ISA was signed by multiple countries, the government of India announced the establishment of a $350 million solar development fund to enable the financing of solar projects.