to-the-point: Solar Alliance eyes USD-300bn fund over 10 yrs
Welspung solar park in Madhya Pradesh. Source: Welspun Renewables.
The International Solar Alliance (ISA) is proposing to create a fund of USD 300 billion (EUR 269bn) over 10 years to support solar projects and programmes in member countries, the Press Trust of India (PTI) reported on Thursday.
The fund is to be set up with help from the World Bank and the Green Climate Fund with the aim of unlocking USD 3 trillion of private-sector investment, ISA interim director general Upendra Tripathy was cited as telling reporters.
ISA is a coalition of 121 solar resource rich countries that was launched by India and France at the COP21 climate change meeting in Paris in 2015.