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Nigeria, India, And Others To Get Solar Energy Plants As Part Of $5 Billion Commitment

At the beginning of 2018, The International Solar Alliance (ISA) revealed that it has signed letters of intent showing that the organization will be in charge of USD $5 billion worth of financing. This will be used to develop nine solar projects across five countries. These countries are Nigeria, India, UAE, Saudi Arabia, and Spain.
Solar plants

This statement was made at the World Future Energy Summit (WFES) in Dubai.
The ISA signed the commitment with Yes Bank, India’s fifth largest private sector bank and the leading company in renewable energy financing.

The deal also involved eight companies, Vyonarc Development, Refex Energy, Waree Engineers, Gensol Group, Solarig, Shakti Pump, Amplus Solar and Zodiac Energy, who will assist in the various projects.

“The best way to get going is to get projects on the ground. That is what we call action to transaction, and that is what ISA is all about,” said Upendra Tripathy, interim director general of ISA, a treaty-based international organization based in India.

The director general of the International Renewable Energy Agency (IRENA), who gave the speech at WFES gathering, Adnan Z Amin says that solar is the fastest growing energy source and solar energy will play a central role in the new age of energy.