France-India Push $1 Trillion Solar Power Club for Tropics

The intergovernmental organization, which was proposed by Prime Minister Modi in 2015, has gathered 60 signatories, 30 of whom have ratified the agreement. The aim of the ISA is to provide guarantees for lowinterest loans to countries between the tropics of Cancer and Capricorn, which have abundant sunshine but lack the resources to use it. Proposed by the Indian Prime Minister, the group hopes to promote investment of $1 trillion on solar generation in tropical countries over the next 12 years, as per news reports. Macron told a press conference in New Delhi that France would itself invest €700m in the ISA, bringing its total investment to €1bn. In an interview w i t h a l e a d i n g magazine, President Macron said a network of a hundred centres of excellence should be set up to promote the transfer of technology and innovation and to train 100,000 technicians over the next five years. The move is intended to put France at the head of efforts to ameliorate global warming after last year’s withdrawal of the US from the 2015 Paris accords. Macron’s office has said that €13 bn in deals was signed on the first day of his trip to India. This envisages the construction of six European Pressurised Water reactors at Jaitapur, a site on the coast of Maharashtra state, about 100km south of Mumbai. If this 9.9GW scheme goes ahead, it will be the world’s largest nuclear site; however, agreements have been signed before.