PV Edge 2020 organised by NITI Aayog
On October 6, 2020, NITI Aayog, Ministry of New and Renewable Energy and Invest India will organise a Global symposium called the “India PV Edge 2020”.
Highlights
The summit aims to unveil and promote cutting edge technologies in solar manufacturing in India. India has set an ambitious target of achieving 450 GW of renewable energy by 2030. Of this, 300 GW is to be of solar.
India aims to increase solar deployment in order reduce prices of solar manufacturing. The cutting edge solar manufacturing stands on three pillars namely
- Disruptive Photo-Voltaic Chemistries
- Utilisation of Build of Material components such as special coatings and glasses
- Manufacturing of custom-engineered advanced production equipment.
The Summit will hold sessions on “Wafers and Cells” and also sessions on “Modules and Production Equipment” and “Supply Chain”.
Solar Energy in India
Currently, India has installed solar power of 35 GW as of August 2020. This is 34% of renewable energy sources. India has proposed International Solar alliance and has put forward the concept of “One Sun One World One Grid” and also World Solar Bank.
India also held the first World Solar Technology Summit in September 2020.
World Solar Bank
The bank was established in India during the International Solar Alliance Summit, 2020. With China taking lead in New Development Bank (NDB) and Asian Infrastructure Investment Bank, the plan is to create World Solar Bank with India becoming the lead member.
The bank is to be set up by disbursing around 50 billion USD.
India will take a lead in the bank holding 30% stake. The International Solar Alliance aims to mobilize 1 trillion USD and reduce cost of finance and technology.
International Solar Alliance
The headquarters of ISA is located in Gurugram, Haryana. The alliance will help India achieve its INDC commitment at Paris Agreement. Under the INDC, India aims to reduce emissions by 33%-35% by 2030 as compared to 2005.
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Month: Current Affairs - October, 2020