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France to commit 700 million euros to International Solar Alliance

Reuters  |  NEW DELHI 

By Varadhan

NEW DELHI (Reuters) - will commit 700 million euros to the (ISA), said on Sunday at the founding conference of the organisation, reiterating the European country's commitment to the alliance and

ISA is an inter-governmental organisation that aims to mobilise $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 organisation, launched by Indian in 2015, aims to promote in 121 countries.

Speaking at the conference, Macron said 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 such as the and who are expected to sign solar energy-related agreements. The organisation's main goal is to lower the cost of and spur investments across the supply chain, including in manufacturing, project development and storage, Upendra Tripathy, of ISA, told ahead of the conference on Friday.

Macron, travelling with a delegation of French companies including EDF, Dassault Aviation, and Suez, will inaugurate a solar plant built by in as a part of a four-day tour of

(Reporting by Varadhan, Editing by William Maclean)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, March 11 2018. 20:27 IST