PARIS: In a path-breaking move, world’s top industrialists and entreprenurs have decided to launch an energy coalition that would impart the much-needed momentum to clean energy through innovations. The move coincides with India’s decision to launch an International Solar Alliance of over 100 countries. World’s top billionaires, including Bill Gates, Mukesh Ambani, Ratan Tata and Jack Ma will announce the Breakthrough Energy Coalition on November 30, the opening day of the COP 21 global climate summit in Paris. The coalition will comprise an international group of 28 investors which will bring companies that have the potential to deliver affordable, reliable and carbon free power from the research lab to the market.
Mission Innovation and the energy coalition will be launched together. It will be hosted by the US President Barack Obama here after the inaugurals of the climate summit. Prime Minister Narendra Modi will also attend the Mission Innovation and it is expected that the world’s industry leaders, who are the architects of the energy coalition, will double their R&D through the initiative that will expedite energy transition by dramatically speeding up the cycle of innovation. Richard Branson of UK’s Virgin Group, Mark Zuckerberg of Facebook and Meg Whitman of Hewlett Packard are some of other celebrity entrepreneurs who will be part of the coalition.
The governments worldwide are expected to benefit from the move of these industry leaders, which will eventually help countries to move on the clean energy growth path through cutting- edge innovation. The International Solar Alliance, the brainchild of Prime Minister Modi, and the Breakthrough Energy Coalition will be the two defining events in COP 21 after the opening of climate summit by UN Secretary General Ban Ki-moon.
The combined efforts of the governments and the big private players are expected to spur the world’s transition towards non-fossil fuel energy. The alliance of the sunshine-rich countries will have over 100 countries that are solar-rich. These countries are lying fully or partially between the Tropics of Cancer and Capricorn. All the potential members of the International Solar Alliance are united by a shared vision to bring clean, affordable and renewable solar energy within the reach of all.
Viewed as a practical and efficient, the solar energy will help reduce the greenhouse gas emissions. The solar alliance countries are set to augment solar power generation in their respective countries so that they contribute to global, sustainable development.
With the intent to get a better deal in the rising renewable energy market, Mr Modi had conceived the idea of an international solar alliance in January.
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