Macron pledges 700 million euros for new solar projects in developing countries

New Delhi – French President Emmanuel Macron on Sunday pledged hundreds of millions of dollars for solar projects in developing countries, as world leaders met in India to promote greater investment in renewable energy.

Macron, who in December warned that the global shift to a green energy future was too slow, said France would extend an extra 700 million euros ($861.5 million) through loans and donations by 2022 for solar projects in emerging economies.

France had already committed $300 million euros to the initiative when it co-founded with India a global alliance in 2015 to unlock new cash for solar projects in sunny yet poor nations. “We need to remove all obstacles and scale up,” Macron said at the launch of the International Solar Alliance in New Delhi on Sunday.

Prime Minister Narendra Modi, who has committed to reducing India’s sizeable carbon footprint through a massive scale-up in renewable energy, said it was vital that nations were not priced out.

“We have to make sure that a better and cost-effective solar technology is available to all,” Modi told the gathering of investors and world leaders from about 20 mainly African nations. “We will have to increase solar in our energy mix.”

India, the world’s third-largest polluter, is undergoing spectacular growth in its solar sector and is on track to become one of the world’s largest clean energy markets.

"Monitoring Desk"

RELATED POSTS

119
OPEC daily basket price stood at US$72.79
WeBOC system is a requirement of China-Pakistan Economic Corridor: Pakistan Customs
Pakistan seals $5 billion deal to buy eight Chinese attack submarines
Chinese envoy proposes trilateral China-Pakistan-India summit
ADM, Musanada complete phase 4 of infrastructure & internal roads project in Al Falah
India’s muscular China-Pakistan policy is the way to go, but prepare for turbulence
Malaysia reviews China infrastructure plans
World Bank approves debt for 400 MW of solar in Pakistan
China working with Iran despite US pressures: Chinese analyst
India should seriously consider limited war with Pakistan: BJP leader
EU takes China to WTO over technology transfer
Ghani discusses TTP leader’s death with Pakistan
Yunnan Academy of Social Sciences (YASS) to establish Pakistan Research Centre
Pak development assistance to Afghanistan reaches $1bn mark : envoy
Investors plan push into infrastructure despite falling valuations

FOLLOW US


About Corridor.pk

Corridor.pk is Pakistan’s leading regional connectivity media & communication/outreach platform, dedicated to profiling and promoting the business activities, news and views on the regionally connected business corridor across OBOR. 

     

Addional Information

 Ethics Policy     Advertise
 Terms & Conditions
 Contact Us