Emmanuel Macron promises 700 mn euros for solar energy development

France India launch alliance for solar energy

"With the U.S. withdrawing from the Paris Agreement, there is a seat open at the head table of climate leadership and India is very well poised to take that seat".

Trump announced previous year he would withdraw the US from the Paris climate accord. They did not wait and stop because some countries (US and others) just made a decision to leave the floor and leave the Paris agreement.

"Because they (solar mamas) decided it was good for them, for their children, grandchildren, they chose to act and keep acting and that is why we are here in order to act very concretely". France's total monetary contribution to the alliance stands at one billion euros, President Macron has said. "Of the target for solar energy generation, we have already achieved 20 GW installed solar power", he said. Shaker said that by signing the agreement, Egypt will become a founding member of ISA because of its numerous sources of renewable energy, especially solar.

"We know the hurdles". "We should not forget that we only have one planet and we are sharing it and for that there is no alternative". "It is not enough to look at what governments are doing". We now need a new private sector deal to mobilize the project.

"Our priorities are often underpinned by developmental goals of our individual countries".

The French president said three primary things need to be done.

The International Solar Alliance has been working on a $300-billion risk mitigation fund as part of a strategy to create a sustainable financing architecture for solar projects worldwide. Secondly, mobilise available finance and thirdly to provide a favourable framework.

The International Solar Alliance is a treaty-based international body for the promotion of efficient exploitation of solar energy to reduce dependence on fossil fuels.

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The pact is created to facilitate information exchange between government officials and experts in the two countries as they work to protect the environment and combat climate change.

"It means that we will improve the regulations, the terms in order to support investments in renewable".

He also added that an encouragement to innovation is necessary so that solar solutions can be provided to various needs.

India's Prime Minister Narendra Modi said advanced and affordable technology is needed to deliver solar energy around the world.

"India proves that it is possible".

Modi said 13 solar projects by India across the world worth $143 million have been completed or are in the process of being executed. "You [India] attracted investment, you supported them, you are training your own people". The world witnessed a history in making.

The ISA is open to 121 prospective member countries, a lot of them located between the Tropics of Cancer and Capricorn as this is the region worldwide with a surplus of bright sunlight for most of the year. The idea was to form a coalition of solar resource-rich countries to collaborate on addressing the identified gaps in their energy requirements through a common approach. In 2016, during the visit of French President Francois Hollande to India the foundation stone of the headquarters of the ISA was laid down by the French President and the Indian Prime Minister.

"We did not come from all continents to deliver additional speeches that will soon be forgotten".

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