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International Solar Alliance gathers steam, summit in New Delhi next year

The International Solar Alliance , led by France and India, is bringing together investors and financers in high-profile events in New Delhi, Kenya, Peru and Indonesia - countries with high solar potential in three different continents. 

The next investment summit is scheduled for February 2017 in New Delhi, after which it will be held in other countries. The previous summit in India -- called RE Invest and held in February 2015 -- netted commitments from 14 companies across seven countries to install 58,000 MW of renewable energy in India in five years till 2020. 

Among local companies, 22 public sector undertakings (PSUs) pledged to set up 18,000 MW while 257 private ones promised 190,000 MW. Banks and NBFCs committed Rs 3.94 lakh crore to finance these projects, of which, by February 2016, Rs 71,201.54 crore (18.63%) had been sanctioned and Rs 29,529.57 crore (7.5%) disbursed.

 

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