Germany’s Development Minister Svenja Schulze will be on a three-day visit to Gujarat, as announced by Germany’s Federal Ministry for Economic Cooperation and Development on Sunday.
Focus on Renewable Energy
Schulze will represent Germany as a partner country at the investor conference dedicated to renewable energy. She will be accompanied by a business delegation of around twenty representatives from the renewables sector. During the conference, Schulze will discuss closer cooperation with the Indian government on expanding renewable energy sources. India is aiming to become the second largest solar producer worldwide.
Statements on Indo-German Cooperation
Development Minister Schulze stated, “The Indo-German cooperation on the energy transition is a success story for all sides. The most populous country on Earth is on track for a boom in renewable energy and wants to become the second-largest producer of solar systems after China. First and foremost, this is good for India which can thus provide affordable renewable energy for its people, create millions of new jobs, and contribute to clean air and a more stable climate. Germany, too, can benefit from this boom: German companies are investing in India. Associations are setting up exchange programs for experts, and German importers will finally have an alternative to sourcing solar systems from China. But ultimately the entire world will benefit if India accomplishes an energy transition. Climate change can only be stopped if more and more of the 1.4 billion people in India get their power from wind and solar energy.”
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Strategic Partnership and RE-INVEST Conference
Germany and India are linked by the Indo-German Green and Sustainable Development Partnership, agreed upon in 2022 by Prime Minister Narendra Modi and Federal Chancellor Olaf Scholz. The RE-INVEST renewable energy investors’ conference, organized by the Indian Ministry of New and Renewable Energy, features Germany as a partner country. Prime Minister Modi will open the conference on Monday morning. Approximately 10,000 participants, mainly business representatives, are expected to attend.
German Business Delegation and Collaborative Efforts
Minister Schulze is accompanied by a German business delegation consisting of 20 small and medium-sized German enterprises and business associations from the renewable energy industry. She will meet India’s Minister for New and Renewable Energy, Pralhad Joshi, at the conference to launch the “India-Germany Platform for Investments in Renewable Energy Worldwide.” This platform aims to connect German and Indian companies in the renewable energy sector and generate investment for global energy transformation.
Future Prospects and Investment Opportunities
India and Germany currently have similar generating capacities from renewable energy sources, with India expected to significantly accelerate its renewable sector expansion. The world’s largest solar park is being constructed in Gujarat, drawing German companies’ attention as a prime investment destination. Germany has over 2,000 companies operating in India, with 200 in the energy sector alone.
Germany’s Energy Security and Sustainability Cooperation
India’s engagement is crucial for Germany’s energy security, as Germany seeks to become a major player in the global solar systems market. The Indo-German sustainability cooperation involves projects with a total volume of roughly 1 billion euros per year, with 90 percent provided as loans from KfW bank in Germany. India repays these loans with interest, and the areas of investment are agreed upon in government negotiations held directly after the conference. India’s interest in climate action is high due to increasing heat waves with temperatures above 50 degrees Celsius.
Schulze’s Conclusion on Renewable Energy Development
Schulze emphasized, “Germany’s Development Ministry has been involved for many years in developing the market for renewable energies in India and improving the investment environment. German companies have benefited from this good reputation and from these investments and will continue to benefit. This is evident from the German private sector’s significant interest in this conference.”
(Except for the headline, this story has not been edited by Newsx staff and is published from a syndicated feed.)
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