The International Solar Alliance (ISA) aims to help developing countries exploit solar energy at affordable prices. It is the first treaty-based intergovernmental organisation to be founded in India and was initiated in Nov 2015 at the Paris climate summit by PM Modi and former French President Francois Hollande.
President Macron commented, “We should not forget that we only have one planet and we are sharing it and for that there is no alternatives. There is a joint destiny which means we also have some joint duties." France will extend an extra 700 million euros ($861.5 million) through loans and donations by 2022 for solar projects in emerging economies, he added.
The Prime Minister presented a 10-point action plan to make reasonably priced solar technology accessible to all nations. He also pledged to generate 175 gigawatts (GW) of electricity in India from renewable energy sources by 2022.
The summit concentrated on several aspects of promoting solar energy, such as credit mechanism, crowd-funding and sharing of technological breakthroughs, in 121 potential member countries. 60 have signed the treaty and about 30 have ratified it. UN Secretary-General Antonio Guterres, Venezuelan President Nicolas Maduro and Bangladesh President Abdul Hamid were some of the dignitaries who attended it. Many projects, including rural electrification, off grid solar power were discussed.
PM Modi and the French president will inaugurate a new 100 MW solar plant near Varanasi.