Thursday, 21 March, 2019

ISA Summit big step towards greater global energy security: United Nations environment chief

President Ram Nath Kovind will co-host the summit with French President Emmanuel Macron President Ram Nath Kovind will co-host the summit with French President Emmanuel Macron
Patty Aguilar | 10 March, 2018, 21:26

Around 500 Heads of States and representatives of several countries will attend the inaugural Conference which will be chaired by French President Immanuel Macron and Indian Prime Minister Narendra Modi.

The India-France Joint statement today said both Modi and Macron welcomed the entry into force of the Framework Agreement of the International Solar Alliance (ISA) and looked forward to co-hosting the ISA Founding Conference tomorrow.

"Australia congratulates India and France on their leadership in establishing the ISA", Australia's High Commissioner to India Harinder Sidhu said in the statement. The ISA seeks to act as a platform for solar energy-rich nations to increase clean energy generation.

Declarations on Saturday in New Delhi with the International Solar Alliance (ISA), the African Development Bank (AfDb), the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), the Green climate fund (GCF), and the New Development Bank (NDB).

The aim of the summit is to deliberate on a finance mechanism for the promotion of solar energy in member countries, crowd-funding and technology transfer.

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He said with Egypt joining the ISA, there will be growing opportunities for cooperation in the field of solar projects, including in the financing of projects in Egypt under India's Line of Credit (LOC) programme.

The minister while highlighting that the effects of global warming were apparent with every successful year also informed that ISA today had 60 signatories and 30 parties already had ratified solar alliance.

The two leaders also reaffirmed that the strengthening of the India-French technological cooperation on renewable energy was a "common priority" for encouraging the emergence and dissemination of innovation in all the sectors.

Besides, ISA and GCF will promote development of affordable, reliable and sustainable solar energy as an important way towards a sustainable and inclusive economic growth.

According to Naidu, the International Solar Alliance "is planning to get all the multilateral development banks to support the cause of the International Solar Alliance".

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