India Extends LOCs for two Solar Projects in Guinea

Masdar Plans Expansion in Saudi with 1.1 GW & Azerbaijan with 500 MW Projects

India has extended Line of Credits for two solar projects in Guinea. The development of solar projects reflected Guinea’s commitment to ISA.

India has extended Line of Credits for two solar projects in Guinea. The agreements were exchanged in the presence of External Affairs Minister S Jaishankar and his Guinean counterpart Mamadi Toure. The two countries also signed an agreement for the development of a water supply agreement in Guinea.

“Pleasure to receive Foreign Minister of Guinea, Mamadi Toure. The opening of our Embassy in Conakry this year has added a new impetus to our relations. Welcome the signing of LOCs for the Conakry water supply project and two solar projects,” Jaishankar said.

The External Affairs Minister also said that the development of the solar projects reflected Guinea’s commitment to the International Solar Alliance (ISA).

Countries that have signed the agreement until now include India, France, Australia, the United Arab Emirates, the United Kingdom, Japan, amongst others. The agreement was opened for signature during the COP22 at Marrakech on November 15, 2016.

The ISA is a group of 121 solar resource-rich countries with headquarters in Gurugram, India. The organisation aims to deploy over 1,000 GW of solar energy and mobilise more than USD 1,000 billion into solar power by 2030, according to the United Nations Framework Convention on Climate Change (UNFCCC).

Last year in November, the Centre gave ex-post facto approval for moving a resolution in the first assembly of the International Solar Alliance for amending its Framework Agreement to enable membership for all member countries of the UN.

The inclusion of the UN members to the Alliance will put solar energy on the global agenda with the universal appeal for developing and deploying solar energy, as per the government statement. According to the release, expanding the membership will lead to the ISA initiative benefitting the world at large.

In November, it was reported that India and Germany will collaborate on Mumbai Metro and solar energy projects as part of bilateral cooperation in energy and urban development sectors, according to a senior official with Germany’s Ministry of Economic Cooperation.

PC: Masdar