International Solar Alliance (ISA) is preparing a detailed project report (DPR) on the creation of World Solar Bank with authorised capital of USD 15 billion to fund projects, a senior official said.
The DPR for the World Solar Bank is likely to be placed at annual ISA Assembly in October this year, Director General ISA Upendra Tripathy told PTI.
This assumes significance in view of India’s ambitious target of having 100GW of solar energy by 2022. India’s installed solar power generation capacity stood at over 35 GW by July this year, according to the Central Electricity Authority data.
Besides there is need for huge funding for solar projects across the world for increasing share of renewable sources in the overall