PMINDIA

Respected dignitaries, distinguish guests and my dear friends, my warm greetings to all of you. I am glad to welcome you all to the first International Solar Festival. I congratulate the International Solar Alliance for this wonderful initiative.

Friends,

The Vedas were texts composed thousands of years ago. One of the most popular mantras of the Vedas each about the sun. Even today millions of Indians chant it daily. Many cultures across the world have respected the sun in their own ways. Most regions also have festivals related to the sun. This International Solar Festival brings the whole world together to celebrate the Sun’s impact. This is a festival that will help us build a better planet.

Friends,

In 2015, the ISA began as a small sapling, it was a moment of hope and aspiration. Today it is growing into giant tree inspiring policy and action. In such a short time, the Membership of ISA have reached a milestone of hundred countries. Additionally, 19 more countries are ratifying the framework agreement for attaining full membership. The growth of this organization is important for the vision of ‘One World, One Sun, One Grid.’

Friends,

In the past few years, India has taken many massive strides in green energy. We were the first G20 Nation to achieve the Paris commitments in renewable energy. The remarkable growth of solar energy is a key reason in making this possible. Our solar energy capacity has increased 32-fold in the last 10 years. This speed and scale will also help us achieve five hundred (500) gigawatt non-fossil capacity by 2030.

Friends,

India’s growth in the solar sector is the result of a clear approach. Whether in India or in the world, the mantra to increase solar adoption is awareness, availability and affordability. The increased awareness about the need of sustainable energy sources by encouraging domestic manufacturing in the solar sector we increase availability. Through specific schemes and incentives, we also made the solar option affordable.

Friends,

ISA is an ideal platform for exchanging ideas and best practices for solar adoption. India has a lot to share as well. let me give you an example for a recent policy intervention. A few months ago, we launched the PM Surya Ghar Muft Bijli Yojana. We are investing Rupees 750 billion in this scheme. Our target is to help 10 million households to install their own rooftop solar panels. We are transferring financial assistance directly to the people’s bank accounts. Low interest, collateral free loans are also being enabled in case additional finance is needed. Now, these households are generating clean electricity for their needs. Moreover, they will also be able to sell excess power to the grid and earn money. Due to the incentives and potential earnings, this scheme is becoming popular. Solar energy is being seen as an affordable and attractive option. I am sure many nations have similar valuable insights derived from their work on energy transition.

Friends,

In a short time, the ISA has made a lot of progress. In 44 countries, it has assisted in developing nearly 10 gigawatt of electricity. The Alliance has also played a role in bringing down the global prices of solar pumps. Private sector investment is being enabled, especially in African member countries. A number of promising solar startups from Africa, Asia-Pacific, and India are being encouraged. This initiative will also be expanded to Latin America and the Caribbean soon. These are noteworthy steps in the right direction.

Friends,

To ensure an energy transition, the world must collectively discuss some important matters. The imbalance in concentration of green energy investments need to be addressed. Manufacturing and technology need to be democratised to help developing countries. Empowering Least Developed Countries and Small Island Developing States should be a top priority. Inclusion of marginalised communities, women and youth is crucial. I am confident that the International Solar Festival will enable discussions in such

matters.

Friends,

India is committed to work with the world for a green future. During the

G20 last year, we led the creation of the Global Biofuels Alliance. We are also one of the founding members of the International Solar Alliance. Every effort to build an inclusive, clean and green planet will have India’s support.

Once again, I welcome you all to the International Solar Festival. May the Sun’s energy guide the world towards a sustainable future. Thank you, Thank you very much.