Macron and Modi hope the alliance will spur $1 trillion in new solar spending by 2030 in 121 countries lacking investment in the sector.
"Solar power is providing clean energy for millions of people around the world and solar energy now represents the single largest source of new power generation".
It also vowed to "explore innovative financing mechanisms that can generate a sustainable market for the deployment of cost effective solar technologies, coupled with constructive policy initiatives to catalyse public and private investments to reduce the cost of solar projects in developing countries".
Indian minister of energy R.K. Singh said that ISA has potential to have a huge impact on the future of the planet, with renewable energy now a viable alternative.
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The Summit, which was attended by 25 heads of state and government, provided a dedicated platform for co-operation amongst solar resource-rich countries. "We have to look at this ancient balanced and all-encompassing philosophy when when we today look for ways to deal with the challenge of climate change", he said.
He was confident that "together, we can ensure the satisfactory performance of the ISA Framework Agreement, and, thereby, make the laudable objectives of the International Solar Alliance reality".
"In 2015, we said we will allocate some 300 million euros to support (solar) projects in the member countries". Twenty-three heads of state, senior delegates of numerous nations, including agent PMs and vitality services are taking an interest in the summit.
"We will also provide project preparation facility to help member countries prepare bankable projects", the Indian Prime Minister said.
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Several speakers at the conference including leaders from African nations highlighted specific areas where work was needed including development of energy storage technology and distribution networks for solar power. The member countries are fully or partially between the Tropics of Cancer and Capricorn.
The ISA is a treaty-based intergovernmental organisation, the first of its kind to be based in India.
"Our priorities are often underpinned by developmental goals of our individual countries".
Bangladesh signed the ISA Framework Agreement at the United National Framework Convention on Climate Change in Marrakesh, Morocco on November 15, 2016 and ratified on September 28, 2017. But with a joint declaration signed in Delhi between the ISA and major funding agencies, the issue of support has been solved to a great extent. The second programme focuses on scaling up affordable financing for solar while the third aims to promote solar mini-grids, especially in the least developed and small island countries.
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