Germany supports transformation towards renewable energy sources in India

New Delhi (India), September 6 (ANI): The German Embassy in New Delhi, operating under the auspices of the Indo-German Green and Sustainable Development Partnership (GSDP), will host an important discussion on ‘Financing the Renewable Energy Revolution’ on Friday.

As stated in a press release by the German Embassy in India, the GSDP series of talks addresses political, financial and social issues related to India’s renewable energy goals, supporting Indo-German cooperation.

The event, held in the context of the International Solar Festival at Bharat Mandapam in New Delhi, will bring together leaders from policy, finance and social affairs to discuss the multi-faceted challenges and opportunities in realizing India’s renewable energy ambitions.

India is aiming for an ambitious target of 500 GW of renewable energy capacity for electricity generation as well as 125 GW of green hydrogen production by 2030. With the country leading the global commitment to triple renewable energy capacity by 2030, this episode of the GSDP series of talks will explore not only the necessary financial investments but also the policy framework and social initiatives required to accompany this transformation, the release added.

Reflecting on Germany’s long-standing commitment to renewable energy, Uwe Gehlen, Head of Development Cooperation at the German Embassy in New Delhi, said, “Germany has a long-standing commitment to renewable energy, which is reflected in our early decisions to innovate and take risks in developing sustainable technologies. I can say with certainty that we are one step closer! Our partnership with India is not just about technology transfer; it is about supporting India’s leadership, together with other countries, in this global energy transformation. By sharing our expertise, supporting the regulatory framework and building local capacity, we aim to accelerate the rapid transition towards sustainable energy, leveraging our combined strengths for a cleaner, more resilient future.” Dr. Ajay Mathur, CEO of the International Solar Alliance (ISA), further emphasised the importance of global cooperation in accelerating the deployment of clean energy. 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 partnership with Germany can significantly accelerate the deployment of renewable technologies such as solar energy, ensuring accessible and affordable energy for all. By leveraging our collective experience and platforms such as this, we can build momentum to achieve our shared goals of a sustainable and resilient energy future.” The event will bring together distinguished speakers, including senior representatives from India’s Ministry of New and Renewable Energy (MNRE). Discussions will cover a wide range of topics such as strengthening international cooperation, de-risking renewable energy investments, fostering social inclusion through skill development and strengthening political commitments to achieve the shared goals of the India-Germany partnership, the release said.

This event is a precursor to RE-INVEST 2024, India’s leading platform to showcase renewable energy potential to the world. The outcomes of this conversation will be discussed at the RE-Invest Dialogue, laying the foundation for meaningful investment and collaboration in the renewable energy sector in India.

The event will feature distinguished speakers including Uwe Gehlen, Head of Economic Cooperation and Development, India, and senior representatives from India’s Ministry of New and Renewable Energy (MNRE). Discussions will cover a wide range of topics, such as strengthening international cooperation, reducing the risk of renewable energy investments, promoting social inclusion through skills development, and strengthening political commitments to achieve the shared goals of the India-Germany partnership.

The event is a precursor to RE-INVEST 2024, India’s leading platform to showcase renewable energy potential to the world. The outcomes of this conversation will inform the dialogue at RE-Invest, laying the groundwork for meaningful investment and collaboration in India’s renewable energy sector. (ANI)