8NOVEMBER, 2024Union Minister Pralhad Joshi, addressing the 7th General Assembly of the International Solar Alliance (ISA), emphasized the need to enhance solar project efficiency, reduce costs, and develop advanced energy storage solutions. He highlighted the importance of integrating smart technologies like IoT and AI, which enable real-time monitoring of energy consumption and improve energy management. Joshi underscored that the solar industry's growth contributes to economic development through job creation in sectors such as manufacturing, installation, and maintenance of solar systems.He cited India's PM Surya Ghar Muft Bijli Yojana, an initiative anticipated to generate 1.7 million direct jobs across various sectors related to solar power. To support this, India will train over 325,000 youth in rooftop solar installation, equipping them with skills in installation and maintenance. This training aims to foster career opportunities and encourage entrepreneurship within communities.Joshi, who serves as President of the 120-nation ISA, outlined five key reasons for the importance of global platforms like the ISA: efficiency improvements, cost reduction, energy storage advancement, integration with smart technology, and the broader benefits to economic growth and job creation. Bangladesh is rushing to settle more than $800 million in outstanding payments to Adani Power before a November 7 deadline, following a sharp reduction in electricity exports from Adani's 1,600 MW Godda plant in Jharkhand, India. Currently, power supply to Bangladesh has been cut by more than half, from around 1,400 MW to 700-800 MW, as Adani faces coal import challenges necessary for power production.Bangladesh has grappled with payment delays due to high import costs since the 2022 Ukraine crisis. The recent political upheaval, which resulted in Prime Minister Sheikh Hasina's ouster in August, has further strained the country's financial stability.In recent months, Bangladesh has taken steps to address the dues. Muhammad Fouzul Kabir Khan, the interim government's power and energy adviser, confirmed recent payments, including $96 million cleared last month and an additional $170 million via a new letter of credit this month. Bangladesh has also begun reviewing its contract with Adani, following reports that the rate charged is 27% higher than that of other private Indian producers.Meanwhile, Adani Power's CFO Dilip Kumar Jha recently stated that there were "no issues" with the power supply to Bangladesh, though payment concerns persist as the deadline approaches. INDIA'S SOLAR INITIATIVE TO GENERATE 1.7M DIRECT JOBSBANGLADESH TO SETTLE MORE THAN $800M IN DUES TO SECURE ELECTRICITYTOP STORIES
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