ISA Summit: PM Modi calls for concessional, less-risky financing for solar projects

With an aim to promote clean energy, the heads of 23 nations and 10 ministerial representatives on Sunday gathered at the Cultural Centre of New Delhi’s Rashtrapati Bhavan to attend the Founding Conference of the International Solar Alliance (ISA).

The three-day summit was kicked-off by co-hosts Indian President Ram Nath Kovind and his French counterpart President Emmanuel Macron.

Apart from co-host France, countries like Australia, UAE, Niger, Gabon, Seychelles, Ghana, Rwanda, Fiji, Bangladesh and Sri Lanka are also taking part in the ISA summit.

To promote clean energy, the ISA initiative was launched by Indian Prime Minister Narendra Modi at the Indo-Africa summit and United Nations Climate Change Conference in Paris, held in October 2015 and November 2015 respectively.

A year later, Framework Agreement for the ISA was opened for the signature during the CoP-22 in Morocco on November 15, 2016.

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Currently, there are 121 member countries, out of which 61 have joined the alliance and 32 have ratified the ISA Framework Agreement.

Here are the live updates:

# Prime Minister Narendra Modi called for concessional and less-risky finances for raising the share of solar electricity in the energy mix and pledged to generate 175 gigawatts (GW) of electricity in India from renewable energy sources by 2022. (PTI)

# PM Modi and French Prez Emmanuel Macron at the Founding Conference of the International Solar Alliance in Delhi.

PM @narendramodi and French Prez @EmmanuelMacron at Founding Conference of the International Solar Alliance in Delhi. pic.twitter.com/xcSbdHk8zE

— PIB India (@PIB_India) March 11, 2018

# Vedas consider the sun as the soul of the world, it has been considered as a life nurturer. Today, for combating climate change, we need to look at this ancient idea to find a way: PM Modi

# PM Modi will address the conference shortly.

All set for the Founding Conference of the International Solar Alliance, where several world leaders are taking part. PM @narendramodi will be addressing the Conference shortly. pic.twitter.com/eBur8EVAnc

— PMO India (@PMOIndia) March 11, 2018

# With PM Modi we are committed and we have same obsession-creating momentum, inspiring people and gathering them to deliver results. But we're obsessed by concrete results, so now we are creating new momentum, we take new commitment to deliver complete results for our countries&planet: E Macron

# French President Macron delivers inaugural address at the International Solar Alliance in Delhi

Delhi: Leaders pose for a group photo at Rashtrapati Bhawan's Cultural Centre where #InternationalSolarAlliance is underway. pic.twitter.com/q7JGxsOmzq

— ANI (@ANI) March 11, 2018