Warm greetings to all of you. I am honored to welcome you to the first International Solar Festival. My heartfelt congratulations to the International Solar Alliance for this splendid initiative.
Friends,
The Vedas, ancient texts composed thousands of years ago, contain popular mantras dedicated to the sun, which millions of Indians continue to chant daily. Across cultures, the sun has been revered and celebrated in various ways, with festivals related to the sun found in many regions. This International Solar Festival brings the world together to acknowledge and celebrate the sun’s profound impact. It is a festival dedicated to creating a better planet.
Friends,
The International Solar Alliance (ISA) started as a promising vision in 2015. Today, it has grown into a significant entity, inspiring policy and action. The ISA now boasts a membership of 100 countries, with 19 more nations on the verge of ratifying the framework agreement for full membership. This growth is crucial for realizing our vision of ‘One World, One Sun, One Grid.’
In recent years, India has made tremendous strides in green energy. We were the first G20 nation to fulfill our Paris Agreement commitments in renewable energy. Our solar energy capacity has expanded 32-fold over the past decade, contributing significantly to our goal of achieving 500 gigawatts of non-fossil capacity by 2030.
India’s progress in the solar sector stems from a clear strategy. The mantra for increasing solar adoption, whether in India or globally, is awareness, availability, and affordability. By raising awareness about sustainable energy, boosting domestic manufacturing, and making solar power affordable through incentives and schemes, we have driven significant adoption.
ISA serves as an excellent platform for sharing ideas and best practices for solar adoption. India has valuable insights to contribute. For instance, our recent initiative, the PM Surya Ghar Muft Bijli Yojana, involves a ₹750 billion investment to help 10 million households install rooftop solar panels. Financial assistance is provided directly to bank accounts, and low-interest, collateral-free loans are available for additional financing. Households can generate clean electricity for their needs and sell excess power to the grid, making solar energy both an affordable and attractive option. I am sure many nations have similar successful experiences to share.
The ISA has made remarkable progress in a short time. It has helped develop nearly 10 gigawatts of electricity in 44 countries, reduced global prices for solar pumps, and facilitated private sector investment, especially in African member countries. Promising solar startups in Africa, Asia-Pacific, and India are being supported, and this initiative will soon expand to Latin America and the Caribbean.
To ensure a successful energy transition, we must collectively address some critical issues. These include addressing the imbalance in green energy investments, democratizing manufacturing and technology, empowering Least Developed Countries and Small Island Developing States, and including marginalized communities, women, and youth in our efforts. I am confident that the International Solar Festival will foster discussions on these important matters.
India remains committed to collaborating with the world towards a green future. Last year, during the G20 summit, we helped establish the Global Biofuels Alliance. As a founding member of the International Solar Alliance, India supports every effort to build an inclusive, clean, and green planet.
Once again, I extend a warm welcome to all of you to the International Solar Festival. May the sun’s energy guide us towards a sustainable future.
Thank you very much.
