November 30, on the 1st day of COP 21 : Official Launch of the TWI in presence of Prime Minister Narendra Modi of India, President François Hollande of France and UN Secretary General Ban Ki Moon
On November 30th in Paris, upon the opening ceremony of COP 21, more than 50 governments rallied around Prime Minister Narendra Modi of India, President François Hollande of France, UN Secretary General Ban Ki Moon to announce a global initiative : the International Solar Alliance (ISA) to address energy access and climate change issues through investment in solar power with the objective of 1 terawatt (1,000 gigawatts) of additional solar power capacity by 2030.
In response to ISA, Gérard Mestrallet, chairman and CEO of Engie, announced the creation of the Terrawatt Initiative (TWI) that will work together with ISA and its member states in establishing the proper regulatory conditions for a massive deployment of competitive solar generation
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A global non profit organization funded by the private sector.
Terrawatt Initiative is open to all corporations, fund managers, and business people involved in generating solar power (i.e. power producers, developers, technology providers, investors and banks) as well as trade organizations.
Our goal: Develop regulations encouraging massive deployment of competitive solar power generation as a decisive means to meet energy needs, sustainable development goals and to combat climate change.
Establish constructive dialogue and practical cooperation between solar resource-abundant countries and key businesses such as power producers, developers, technology providers, investors and banks
Identify global regulatory best practices fostering rapid and lean deployment and financing of competitive solar power generation capacity
Liaise with countries to help them introduce competitive solar best practices
Design, develop and manage financial and risk mitigation systems
Develop and manage a large scale digital marketplace for solar power asset finance