Germany To Aid In India’s 500 GW RE Capacity Plan

Germany To Aid In India’s 500 GW RE Capacity Plan

The German Economic Cooperation and Development Minister, Svenja Schulze has announced that Germany will invest in the renewable energy sector in India. She stated at the Re-Invest 2024 event held in the city of Gandhinagar. Schulze said Germany has a technological lead in renewables, adding it’s will to prop up India to achieve the ambitious 500 GW renewable energy targets.

The target for India is a level of 500 GW of renewable energy capacity by 2030. But this forms part of the much broader commitment made at the 2021 COP26 climate summit for it to generate half of its energy from renewable resources, cut emissions in some billion tonnes, and ultimately reach net-zero by 2070.

The head of the Siemens India delegation, Schulze, said Germany has tremendous experience with renewable technologies and wants to assist India in that regard to reach these targets. This cooperation is “extremely important,” as addressing climate change is a global effort, and India plays a significant role in this endeavour.

Following the recent establishment of the India-Germany Platform for Investments in Renewable Energies Worldwide, Germany and India have become partners under the “Green and Sustainable Development Partnership”, aimed at linking investors with opportunities in India’s renewable energy sector.

A new platform was also created, one which would incorporate and surpass the challenges of small- and medium-sized-enterprises in gaining market access. Bringing interested parties together and confronting issues turns the obstacles into opportunities for growth and more collaboration.

According to Schulze, the partnership is of utmost importance for the forward march globally in the field of renewable energy. The platform would help integrate German skills with Indian energy needs, meaning that in both countries, more expansive and capable services for renewable energy would be provided.