In meeting the energy requirements of the world in the years to come, the International Solar Alliance (ISA) will play the same role as oil-cartel OPEC plays today, Prime Minister Narendra Modi said. ISA is an inter-governmental treaty-based organisation of countries between the Tropic of Cancer and Tropic of Capricorn, looking to promote solar energy in the member nations. OPEC currently meets around half of the world’s oil requirements.
India is becoming the most preferred destination for investment in solar energy today, as the country targets to draw 40% of its total energy requirements from non-fossil fuel sources by 2030, he said.
The Prime Minister was speaking at the inauguration of the first general assembly of ISA, the second edition of India’s flagship renewable energy event Re-Invest and the second Indian Ocean Rim Association Renewable Energy Meet in the city.