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ISA
is an inter-governmental organization that aims to mobilize $1
trillion in funds for future solar generation, storage and
technology across the world. It has 60 signatories, with 30 of
those countries having ratified the agreement.
The treaty-based organization, launched by Indian Prime Minister
Narendra Modi in 2015, aims to promote solar energy in 121
countries.
Speaking at the conference, Macron said France was more than
tripling its commitment to the alliance, and its total monetary
contribution to the alliance stood at one billion euros.
Other than leaders from member countries, the event was attended
by leaders from major development banks such as the Asian
Development Bank and African Development Bank who are expected
to sign solar energy-related agreements.The organization's main
goal is to lower the cost of finance and spur investments across
the supply chain, including in manufacturing, project
development and storage, Upendra Tripathy, director general of
ISA, told Reuters ahead of the conference on Friday.
Macron, traveling with a delegation of French companies
including EDF, Dassault Aviation, Schneider Electric and Suez,
will inaugurate a solar plant built by Engie in Uttar Pradesh as
a part of a four-day tour of India.
(Reporting by Sudarshan Varadhan, Editing by William Maclean)
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