India and Germany Jointly Launch Platform for Boosting Investments in Renewable Energy
India-Germany Platform for Investments in Renewable Energies Worldwide, jointly launched by India and Germany at the RE-INVEST 2024, Gandhinagar, aims to fast-track renewable energy investments in India and globally.
September 18, 2024. By Mrinmoy Dey
The ‘India-Germany Platform for Investments in Renewable Energies Worldwide’ is a key initiative under the nations' ‘Green and Sustainable Development Partnership (GSDP)’. The platform aims to fast-track renewable energy investments, foster business collaborations, and expand global supply chains.
Germany’s Federal Minister for Economic Cooperation and Development, Svenja Schulze, emphasised the importance of this collaboration for achieving climate goals. “Germany and India are working together to find concrete solutions for expanding renewable energy in India and globally,” she said.
The partnership, she explained, will focus on innovative technologies, easier access to affordable financing, and expanding the role of women in the renewable energy sector. She highlighted the initiative as a step toward helping India reach its target of 500 GW of renewable energy by 2030.
Union Minister of New and Renewable Energy, Prahlad Joshi, also hailed the platform as a landmark achievement. “This is the first time both countries have created dedicated mechanisms to support renewable energy investments. Germany has long been a trusted partner in India’s renewable energy journey, providing expertise in cutting-edge technologies,” stated Joshi.
He further added that this platform will help build on the progress made at RE-INVEST 2024 and further strengthen the partnership between India and Germany in the energy sector.
A Steering Committee, comprising senior officials from both countries, will oversee the platform’s activities, ensuring alignment with international renewable energy goals. It will serve as a hub for collaboration between governments, investors, business associations, and development banks, broadening the scope of the Indo-German Energy Forum to a global scale.
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