The German Embassy in New Delhi, under the Indo-German Partnership for Green and Sustainable Development (GSDP), will host an important discussion titled “Financing the Renewable Energy Revolution” on Friday.
The GSDP Conversation Series addresses various political, financial, and social aspects of India’s renewable energy goals while promoting Indo-German cooperation, according to a press release from the German Embassy in India.
The event, part of the International Solar Festival at Bharat Mandapam in New Delhi, will bring together leaders from the political, financial, and social sectors to explore the multifaceted challenges and opportunities in advancing India’s renewable energy ambitions.
India is aiming for a substantial target of 500 GW of renewable energy capacity for electricity generation and 125 GW for green hydrogen production by 2030. As India plays a significant role in the global effort to triple renewable energy capacity by 2030, this session of the GSDP conversation series will delve into the necessary financial investments, political frameworks, and social initiatives required for this transition.
Reflecting on Germany’s commitment to renewable energy, Uwe Gehlen, Head of Development Cooperation at the German Embassy, stated, “Germany has a longstanding commitment to renewable energy, driven by our early decisions to innovate and invest in sustainable technologies. Our partnership with India goes beyond technology transfer; it is about supporting India’s leadership in this global energy transition. By sharing our expertise and building local capacities, we aim to accelerate the shift towards sustainable energy.”
Dr. Ajay Mathur, Director General of the International Solar Alliance (ISA), emphasized the role of global cooperation in advancing clean energy. He remarked, “The partnership between India and Germany exemplifies how global collaboration can drive the clean energy agenda. With India’s leadership and Germany’s support, we can significantly speed up the deployment of renewable technologies, ensuring accessible and affordable energy for all.”
The event will feature notable speakers, including senior representatives from the Indian Ministry of New and Renewable Energy (MNRE). Discussions will focus on enhancing international collaboration, mitigating investment risks, fostering social inclusion through skill development, and strengthening political commitments to achieve the shared goals of the Indo-German partnership.
This event serves as a precursor to RE-INVEST 2024, India’s premier platform for showcasing its renewable energy potential globally. The outcomes of this discussion will inform the dialogue at RE-INVEST, paving the way for significant investments and collaborations in India’s renewable energy sector.
(With ANI Inputs)
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