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9th August 2016 Current Affairs Questions and Answers

9th August 2016 Current Affairs MCQs, Quiz, Questions : Current Affairs for August 2016 ,  Daily Multiple Choice Questions (MCQs) for In...

International Agency for Solar Technologies and Applications (IASTA)

International Agency for Solar Technologies and Applications (IASTA) was launched by Indian Prime Minister Narendra Modi along with the French president, Fran├žois Hollande, at the Paris COP21 climate summit. This alliance comprises of over 120 countries with the primary aim to spread cheap solar technology across the globe with pooled policy knowledge.
The idea behind the establishment of IASTA is that larger markets and bigger volumes will lead to lower costs, making it possible to spur demand. IASTA will have its headquarters in India. The Indian government is investing an initial $30m in setting up its headquarters in India. The eventual goal is to raise $400m from membership fees, and international agencies. Companies involved in the project include Areva, Engie, Enel, HSBC France and Tata Steel. It is worth mentioning that India has emerged as the natural leader for this alliance, with its ambitious targets to install 175GW of renewable energy by 2022.