French President Emmanuel Macron pledges 700 million euros to International Solar Alliance


Addressing the summit, Indian Prime Minister Narendra Modi said: "In India, we have started the world's largest renewable energy expansion program".

The Prime Minister called for concessional financing at lower risk for solar projects. But while hailing the "solar mamas", a group of women trained as solar engineers, he said the women had continued their mission to promote solar energy even after "some countries decided just to leave the floor and leave the Paris agreement".

"Ghana is located around the equatorial sun belt with many parts of the country enjoying high levels of Solar radiation all year round".

The conference also underlined that solar energy is an alternative which offers a clean and climate friendly source, capable of ensuring energy security to the people of member states and better their lives. "While solar is fast becoming one of the most cost-effective ways to generate new power and deliver energy access, to deploy fast enough, complementarity must exist between our work and the broader renewable energy mandate and development tools established by Irena".

President Hamid said Bangladesh strongly believes that the development of renewable energy is necessary for developing countries.

It is an global treaty-based alliance of 121 solarrich countries situated fully or partially between the tropics of Cancer and Capricorn.

ISA is a treaty-based intergovernmental organisation, the first of its kind to be based in India.

"We have already achieved 20GW installed solar power target", he added.

# PM Modi will address the conference shortly.

Launched by Modi and then French President Francois Hollande in 2015, the ISA was conceived as a coalition of solar resource-rich countries to address their special energy needs and provide a platform to collaborate on dealing with the identified gaps through a common, agreed approach. "Today, for combating climate change, we need to look at this ancient idea to find a way", the PM said.

In a clear reference to the United States, Macron said that although some governments chose to rule out the agreements reached in Paris during the climate summit, 'others made a decision to take actions because they want something good for their children and grandchildren'.

France's worldwide development agency was committing an additional $700mn to solar energy by 2022, taking its total investment in financing solar projects in ISA member countries to $1bn, French President Emmanuel Macron said in his inaugural speech.

Macron said that he will inaugurate a 100 MW solar plant near Varanasi tomorrow with PM Modi. "But we're obsessed by concrete results, so now we are creating new momentum, we take new commitments to deliver concrete results for our countries and our planet", Macron told the gathering.

Trump announced a year ago he would withdraw the US from the Paris climate accord.

The summit focussed on various factors of solar energy such as power generation, capacity building, credit mechanism crowd funding, technology sharing etc.