The ISA founding ceremony, held on Sunday March 11 in New Delhi, India, was a highlight in the 2018 solar calendar. French President, Emmanuel Macron announced €700 million in support through loans and donations by 2022, while several other financial deals and MoUs were also signed. Indian Prime Minister, Narendra Modi further outlined 10 action points to help the spread of solar energy.

Vikram Solar and CEA will look to enhance research and development on high-efficiency crystalline silicon cells, modules and systems. A host of high-efficiency generation and storage technologies for French and Indian markets are also in the planning.

The European Investment Bank (EIB) has extended a line of credit totaling €150 million, without insisting on a sovereign guarantee by the Government of India. Over one million Indian households are set to benefit.

International Solar Alliance (ISA), now registered under the United Nations, is organizing its first summit to be held this Sunday March 11. It is also set to host a founding ceremony of ISA in the presence of French President, Emmanuel Macron, Indian Prime Minister, Narendra Modi and Bangladeshi President, Abdul Hamid. Government dignitaries of member countries are joining, and 51 solar projects will be signed, by announcing the concrete instrument to facilitate the project execution.

Global law firm, Norton Rose Fulbright has advised GuarantCo, the international development finance institution, on a landmark INR 2.5 billion ($40 million) dual-tranche unsecured wrapped and rated bond, issued by Sindicatum Renewable Energy Company Pvt Ltd. Such green bonds are beneficial to the country, since they offer low interest rates and long-term repayment schemes, says Dharmendra kumar, an analyst from IHS Markit.

The Union Territory of Diu, located in the western part of India is reportedly generating up to 13 MW of solar every day, which is more than its daily electricity demand.

The European Investment Bank (EIB) today said it will ink an agreement tomorrow, Saturday, March 10, to provide a loan for both small- and large-scale clean energy projects in India, which will form part of its €800 million (around US$984 million) investment in the country.

India has revised its e-mobility policy, and now aims to reach 30% electric of total fleet by 2030. MNRE head, RK Singh launched the program and informed about the tender for 10,000 electric vehicles (EVs) to be released tomorrow. He invites industry players to invest in EV manufacturing and batteries, and work for ‘Healthier World.’

The scheme was sanctioned in 2014 for empowering underserved communities of the states of Rajasthan, Madhya Pradesh, and Maharashtra.

Neyveli Lignite Corporation India Ltd (NLCIL) has re-tendered the 2 x 10 MW grid-connected solar PV power project with the reduced 8 MWh battery energy storage capacity. It has also invited bids to lend INR 25.52 billion ($394 million) in finance required for the proposed 709 MW solar project in Tamil Nadu state.