Prime Minister Narendra Modi and French President Emmanuel Macron has on Sunday co-chaired the first Founding Conference of International Solar Alliance (ISA) in New Delhi’s Rashtrapati Bhavan. The summit was attended by United Nations Secretary-General Antonio Guterres, Venezuelan President Nicolas Maduro and Bangladesh President Abdul Hamid among other dignitaries from over 50 countries.
One of the key takeaways at the 2015 Paris Climate summit, ISA is aimed at tapping solar energy in the countries that lie partially or fully between the Tropics of Cancer and Capricorn. The summit aims to mobilise $1 trillion of investments needed by 2030 for massive deployment of solar energy, according to the ‘ISA Mission’ on its website. Efforts were under way to put together 121 projects, which can be signed in two phases — about 50 on March 11 and another 71 on April 20.
The ISA is the first treaty-based intergovernmental organisation to be based in India that aims to help sunshine-rich developing countries to tap solar energy at more affordable prices through aggregating both demand and risks in order to bring down costs and secure investments of solar developers.
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