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First Solar applauds international renewable energy initiative

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First Solar has applauded the creation of the new International Renewable Energy Agency (IRENA) as an important step in promoting investments in renewable energies worldwide.

GoI announced a Feed-in-Tariff (FiT) providing financial support up to INR 12 per kWh for Solar PV projects promising a 10 year commitment with a cap of 50 MW

Pradesh. With over 50,000 villages in India without electricity, solar power has enormous potential to meet rural electricity needs, improving the lives of millions of Indians and meeting critical agricultural, educational and industrial needs.

IRENA is an international organization created to promote renewable energy options on a global scale. This ambitious initiative will offer both industrialized and developing nations advice and support when seeking renewable energy solutions.

“The creation of IRENA sends a clear signal to markets worldwide that renewable energy will be a public policy priority for many years to come and shows that policy makers are serious about fighting global warming,” said Mike Ahearn, CEO of First Solar. “We encourage the United States and all other nations that have not yet committed to join IRENA and to actively support its vision of a more sustainable environment for future generations.”

It is IRENA’s goal to become the main driving force in promoting widespread sustainability. The agency plans to aid nations in accessing relevant information and reliable data on the renewable energy industry. IRENA will also help countries improve their regulatory frameworks and build their renewable energy capacity.

“The level of international support for IRENA shows that the need to invest in alternatives to fossil fuels is as important for developing countries as it is for developed countries,” Ahearn said. “We expect IRENA to become a powerful force in identifying and promoting best practices and thereby help governments and private investors optimize their investments in renewable energies.”

The agency plans to cooperate with other organizations that are already active in the renewable energy field in order to complement their initiatives. The Founding Conference for IRENA, where the Treaty will be signed, will be held today in Bonn, Germany.

For additional information:

www.firstsolar.com

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