Germany-India Collaboration: Financing the Renewable Energy Revolution

The German Embassy in New Delhi hosts a key event under the Indo-German Partnership for Green and Sustainable Development to discuss financing India's ambitious renewable energy targets. This event aims to foster cooperation and address political, financial, and social dimensions, setting the stage for RE-INVEST 2024.

The German Embassy in New Delhi will host a crucial event titled 'Financing the Renewable Energy Revolution' under the Indo-German Partnership for Green and Sustainable Development (GSDP) on Friday. The event is part of the GSDP Conversation Series, focusing on political, financial, and social aspects of India's renewable energy objectives, as stated in a press release by the embassy.

The conversation coincides with the International Solar Festival at Bharat Mandapam, New Delhi, and aims to gather leaders from various sectors to tackle the challenges and opportunities in advancing India's renewable energy goals. India is targeting 500 GW of renewable energy capacity and 125 GW for green hydrogen production by 2030. This GSDP episode will explore required financial investments, political frameworks, and social initiatives to support this transition.

Uwe Gehlen, Head of Development Cooperation at the German Embassy, affirmed Germany's commitment rooted in innovative and risk-taking practices in sustainable technologies. He stressed the partnership isn't merely about technology transfer but supporting India's leadership in the global energy transition. Dr. Ajay Mathur, Director General of the International Solar Alliance, highlighted the partnership's potential to drive the clean energy agenda forward through global cooperation.

Prominent speakers, including senior representatives from India's Ministry of New and Renewable Energy (MNRE), will address topics like international collaboration, de-risking investments, and social inclusion through skill development. The event serves as a precursor to RE-INVEST 2024, India's main platform for showcasing its renewable energy potential. Outcomes from this discussion will influence dialogues at RE-Invest, paving the way for significant investments and collaborations.

(With inputs from agencies.)