Petrocaribe will provide logistical support to solar energy projects

Caracas.- At the Foundational Summit of the International Solar Alliance, in New Delhi, India, Venezuela announced an initiative to fund solar energy projects through the Venezuelan cryptocurrency, the Petro.

Petrocaribe Solar was conceived by President Nicolás Maduro, and will draw on the capabilities and technical support of the Petrocaribe Energy Cooperation Agreement. People’s Minister of Foreign Affairs, Jorge Arreaza, said that it will encompass Latin America, Venezuela and the Caribbean.

He also said that Venezuela has a great responsibility to develop solar energy despite being an oil producing country by nature. "The socialist ethic indicates that we have to develop new types of clean, renewable energy and especially solar energy in this part of the world, where the tropics we share in the south are found, particularly in Latin America, the Caribbean and Africa”.

Finally, Foreign Minister Arreaza, along with Minister of Petroleum, Manuel Quevedo and Minister of Foreign Trade, José Vielma Mora, stated that the future of the world depends on solar energy and that we can’t continue to depend on fossil energy.

The Foundational Summit of the International Solar Alliance is geared at the 121 countries with the highest solar exposure, located in the Tropics of Cancer and Capricorn, and it aims at addressing the needs related to energy issues and energy gaps between countries.

This maiden summit was attended by representatives of 62 nations, among which is noted the participation of Prime Minister of India, Narendra Modi, its main promoter.