Germany supports renewable energy transition in India

The German Embassy in New Delhi, under the aegis of the Indo-German Partnership for Green and Sustainable Development (GSDP), will host a critical conversation titled ‘Financing the Renewable Energy Revolution’ on Friday.

The GSDP Conversation Series addresses political, financial, and social aspects of India’s renewable energy goals, fostering Indo-German cooperation, a press release by the German Embassy to India said.

The event takes place in the context of the International Solar Festival at Bharat Mandapam, New Delhi. It will bring together leaders from political, financial, and social fields to discuss the multifaceted challenges and opportunities in advancing India’s renewable energy ambitions.

India is pursuing an ambitious target of 500 GW of renewable energy capacity for electricity generation, along with 125 GW for green hydrogen production by 2030. As the country takes a leading role in the global commitment to tripling renewable energy capacity by 2030, this episode of the GSDP conversation series will explore not only the financial investments needed but also the political frameworks and social initiatives required to accompany this transition, the release added.

Reflecting on Germany’s long-standing commitment to renewable energy, Uwe Gehlen, Head of Development Cooperation, German Embassy, New Delhi, said, “Germany has a long-standing commitment to renewable energy, grounded in our early decisions to innovate and take risks in developing sustainable technologies. I can say for sure that we are just a call away! Our partnership with India is not just about technology transfer; it is about supporting India’s leadership, along with other countries, in this global energy transition. By sharing our expertise, fostering regulatory frameworks, and building local capacities, we aim to catalyze a rapid shift towards sustainable energy, leveraging our combined strengths for a cleaner, more resilient future.”

Dr Ajay Mathur, Director General of the International Solar Alliance (ISA), further highlighted the importance of global cooperation in accelerating clean energy deployment. He said, “The partnership between India and Germany is a powerful example of how global cooperation can drive the clean energy agenda forward. India’s leadership, in collaboration with Germany, can significantly accelerate the deployment of renewable technologies like solar, ensuring accessible and affordable energy for all. By leveraging our joint expertise and platforms like this, we can build momentum to achieve our shared goals of a sustainable and resilient energy future.”

The event will feature distinguished speakers, including senior representatives from the Indian Ministry of New and Renewable Energy (MNRE). Discussions will cover a wide range of topics, such as enhancing international collaboration, de-risking investments in renewable energy, fostering social inclusion through skill development, and strengthening political commitments to achieve the shared goals of the Indo-German partnership, the release said.

This event is a precursor to RE-INVEST 2024, India’s premier platform for showcasing its renewable energy potential to the world. The outcomes of this conversation will be discussed during the dialogue at RE-Invest, laying the groundwork for substantial investments and collaborations in India’s renewable energy sector.

The event will feature distinguished speakers, including Uwe Gehlen, Head of Economic Cooperation and Development in India, and senior representatives from the Indian Ministry of New and Renewable Energy (MNRE). Discussions will cover a wide range of topics, such as enhancing international collaboration, de-risking investments in renewable energy, fostering social inclusion through skill development, and strengthening political commitments to achieve the shared goals of the Indo-German partnership.

This event is a precursor to RE-INVEST 2024, India’s premier platform for showcasing its renewable energy potential to the world. The outcomes of this conversation will inform the dialogue at RE-Invest, laying the groundwork for substantial investments and collaborations in India’s renewable energy sector.