NY awards contracts to 1.38 GW of wind, solar projects

NY awards contracts to 1.38 GW of wind, solar projects

Speaking at New York University last week, New York State Governor Andrew Cuomo - joined by former Vice President Al Gore - announced the single-largest commitment to renewable energy by any U.S. state, which is worth $1.4 billion, and approved 26 large-scale renewable energy projects across New York.

At the event, Prime Minister Narendra Modi suggested reading the Vedas to find ways to control climate change.

"In 2017, Indian solar sector logged over United States dollars 10 billion in financing activity, according to Mercom Capital Groups recently released 2017 Q4 and Annual India Solar Market update", it said in a statement.

"We are taking the lead in advancing affordable renewable energy solutions, as well as in promoting community solar that benefits users and taxpayers simultaneously", he added.

A report from General Electric, which has operations in both renewable and conventional energy resources, said the Indian government has ambitious plans to boost oil and gas production, but has fallen short of its goals in the past.

"India will provide assistance to 15 countries for $1.4 billion".

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A party to the multilateral Paris climate agreement, India has set a goal of reducing its emissions by about 20 percent below 2005 levels by 2020.

Any duty would hurt big project developers in India such as SoftBank-backed SB Energy but would be good for local solar component makers such as Indosolar and Moser Baer, which have struggled to compete with Chinese companies such as Trina Solar and Yingli.

Unsurprisingly, numerous other coastal states raised their hands as well, publicly wondering whether exemptions would be as easily acquired by Blue states. The International Solar Alliance exists, in part, to help bring Modi's idea to fruition. They stressed the importance of mobilizing public and private funds to support the development of solar energy. "I am happy to announce that to fill the gap of solar technology, India will start a solar technology mission with global focus, which will cover all government technical and educational institutions", Prime Minister Narendra Modi said, announcing the unprecedented investment.

In support of the deployment of solar power, Prime Minister Modi and President Macron also jointly inaugurated a 75-megawatt (MW) solar plant built by a French company in the Indian state of Uttar Pradesh.

The report noted that there were no corporate M&A deals in solar during 2017. Macron said member countries made up three-fourths of the world population, PTI reported. Power would be transmitted to Jigna sub-station of Mirzapur range of Uttar Pradesh Power Corporation Ltd, officials said.

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