International Solar Alliance’s Global Solar Facility is set to receive 35 million dollars as a capital contribution.
India is hosting the sixth assembly of the International Solar Alliance.
India is set to make a $25 million investment as a capital contribution to the Global Solar Facility.
International Solar Alliance will contribute $10 million to the Global Solar Facility.
The Global Solar Facility (GSF) is designed to increase solar investment in underserved and geographical areas of Africa.
The ISA Assembly approved the Global Solar Facility in 2022, which is expected to attract an inflow of private capital into off-grid solar projects, rooftop solar projects and productive use solar projects.
The GSF is aiming to expand its network to Asia, Latin America and the Middle East.
GSF plans to invest in innovative technologies to enhance solar energy efficiency, support startups for faster solar energy implementation, and explore emerging solar energy sectors.
GSF is working towards crowdsourcing investments from various international donors.
GSF is aiming to raise 100 million USD to accelerate the transition to solar energy.
