COP26: India & UK to unveil ‘Green Grids Initiative’ for solar power
Category: #headlines  By Mateen Dalal  Date: 2021-11-01
  • share
  • Twitter
  • Facebook
  • LinkedIn

COP26: India & UK to unveil ‘Green Grids Initiative’ for solar power

India and the U.K. are about to launch a project to develop a solar grid that would link nations in different parts of the world.

The project called ‘Green Grids Initiative’ is being announced by the International Solar Alliance. It was earlier unveiled by India and France at the 2015 Paris climate conference to promote solar energy. In May this year, the U.K. and India decided to join forces in this initiative.

Solar energy has become a cheaper option in contrast to other fossil fuel alternatives. However, countries cannot depend on solar energy at night and are forced to switch back to fossil fuels that generates earth-warming greenhouse gases. This is especially common in India, where power demand is massively increasing.

Ajay Mathur, Director-General of the International Solar Alliance, says that the new project is based on the idea that the sun always shines in some of the parts of the world, and the main objective of the project is to create a worldwide grid that will transmit power generated from the sun from one place to another.

He said that solar power might be sent to East Asia via a cable connecting India and East Asia.

Although the concept of a grid that spans regions isn't new, this would be the first attempt to build a worldwide grid network.

Mr. Mathur said estimates show that solar power would become as cheap as power from fossil fuels in the next three years, making it easier to develop new solar plants and storage facilities. But still, it will need nations to reach complex agreements.

The number of countries that will participate will increase over time, as costs for solar lowers.

Mr. Mathur pointed out that the International Solar Alliance expects to enter into an agreement with the Global Energy Alliance to create a $10 billion fund for the project and help mitigate associated risks.

Source Credit - https://economictimes.indiatimes.com/industry/renewables/india-uk-to-launch-global-solar-grid-project-at-cop26/articleshow/87419095.cms

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Mateen Dalal    

Mateen Dalal

Mateen has completed his Bachelor’s degree in electronics and telecommunication engineering, post which he lent his proficiency to the industry, working as a quality and test engineer. Drawn intricately toward the field of content creation however, Mateen soon switc...

Read More

More News By Mateen Dalal

Ather Energy raises $250 million to stay ahead in competition
Ather Energy raises $250 million to stay ahead in competition
By Mateen Dalal

Electric scooter producer Ather Energy has reportedly secured $250 million in a new funding round. As per reports, the investment round is in its early stages. The company’s goal is to obtain $200 million to $250 million to compete in the EV...

Digital wellness startup Mojorcare bags USD 20 Mn in Series A funding
Digital wellness startup Mojorcare bags USD 20 Mn in Series A funding
By Mateen Dalal

Mojocare, a wellness and health startup has reportedly raised USD 20.6 million in a Series A round of funding which was led by B Capital Group and saw participation from existing investors including Sequoia India’s Surge, Better Capital, and Ch...

Exponent Energy bags USD 13 million in Lightspeed-led Series A funding
Exponent Energy bags USD 13 million in Lightspeed-led Series A funding
By Mateen Dalal

Bangalore-based Exponent Energy has reportedly secured USD 13 million in a Series A funding round which was spearheaded by Lightspeed Venture Partners. The round also saw participation from existing investors such as 3one4 Capital, YourNest VC, and A...