New Delhi: India moved a step closer to positioning itself as an emerging global powerhouse in solar energy, with Prime Minister Narendra Modi and French President Francois Hollande laying the foundation stone of the International Solar Alliance (ISA) headquarters at Gurgaon.
The two also inaugurated the temporary headquarters of the alliance, a multilateral platform to propagate the use of solar energy by bringing together companies, research institutions and the governments of around 120 countries.
“French Development Agency will allocate €300 million to solar energy over the next five years. In addition, our companies, research institutions and diplomatic network will be mobilized to reach all the goals set by alliance. The solar alliance is a gift from India to fight against climate change. France is proud to launch it with you,” said French President Francois Hollande at the inauguration.
Seeking a quick start to the project, Hollande stated ISA must begin work without delay in order to achieve tangible results on the ground.
The French President stated that ISA should look at pooling demand of high-potential countries to bring down financing costs and opening their solar markets to reduce cost of investment and facilitate the transfer of technology between the developed and developing countries.