One of the major outcomes of French President Francois Hollande’s visit to India is the financial commitment to Prime Minister Narendra Modi’s concept of International Solar Alliance (ISA). While inaugurating the interim secretariat of ISA in Gurgaon on Monday, Hollande announced a whopping 300 million Euros assistance, hailing the concept as a “new chapter”.
Modi and Hollande laid the foundation stone of the headquarters of ISA at National Institute of Solar Energy (NISE) in Gurgaon. “France will invest 300 million Euros for ISA and our companies will contribute through technological improvement and R&D,” Hollande said.
Modi welcomed French commitment to support the solar projects launched by the member countries of ISA which is in line with the financing of 2 billion Euros for the development of renewable energies, announced by France during Conference of Parties (CoP21). The initiative aimed at increasing utilisation and promotion of solar energy in solar-rich nations was launched by both the leaders on the sidelines of CoP21 in Paris last month.