Picture Credit: BMZ
German Development Minister Svenja Schulze met with Indian Prime Minister Narendra Modi at the 4th Global Renewable Energy Investors Meet (RE-INVEST) 2024 on Monday. Representing Germany, a partner country at the event, Schulze is on a three-day visit to Gujarat, focusing on expanding Indo-German cooperation in renewable energy.
The two leaders reaffirmed their commitment to boosting renewable energy collaboration between their nations. Minister Schulze emphasized the importance of Indo-German cooperation in the global energy transition. “We see immense potential in India’s renewable energy sector, and this cooperation is a win-win for both countries,” she stated, adding that Germany is keen to support India in achieving its ambitious goals.
Germany’s Active Role in RE-INVEST 2024
Minister Schulze is leading a delegation of 20 representatives from Germany’s renewable energy sector to the three-day conference, hosted by India’s Ministry of New and Renewable Energy (MNRE). The event has attracted more than 10,000 participants, including leaders from government, industry, and finance.
With the central theme of “Mission 500 GW,” RE-INVEST 2024 aims to showcase India’s plans to significantly expand its renewable energy capacity by 2030. “India is well on its way to becoming a global renewable energy leader,” Schulze said. “This will not only create millions of jobs and provide affordable energy to its people, but it will also contribute to cleaner air and a more stable climate, benefiting the entire world.”
Schulze Praises Indo-German Cooperation
Minister Schulze hailed the partnership between India and Germany as a success story in the global push toward sustainable energy. “The Indo-German cooperation on the energy transition is one of our most impactful partnerships. The world’s most populous country is experiencing a renewable energy boom, and Germany is proud to be part of it,” she stated.
The German Development Minister also highlighted the unique role Germany plays in supporting India’s energy goals. “German companies are investing in India, and we have established exchange programs to share knowledge and expertise. The expansion of India’s solar capacity will be transformative—not just for India, but for the global clean energy movement,” she added.
India’s Rising Role in Global Solar Energy
India, which already ranks fourth globally in installed renewable energy capacity, has set its sights on becoming the world’s second-largest solar energy producer.
Prime Minister Modi, who inaugurated RE-INVEST 2024, reinforced India’s commitment to achieving this target. “India is on a mission to reach 500 GW of renewable energy capacity by 2030, and our partnership with Germany will play a crucial role in this journey,” Modi said.
Schulze echoed this sentiment, emphasizing that India’s success is vital to the global energy transition. “India’s progress in renewables benefits not just the Indian people but the entire world. Climate change can only be addressed if countries like India take a leading role in switching to clean energy,” she remarked.
German Investments in India’s Renewable Sector
Germany is positioning itself as a key partner in India’s renewable energy growth. Schulze noted that over 200 German companies are engaged in trade with India’s energy sector, and more than 50 have established production facilities or subsidiaries in the country. “German businesses see India as a critical market for the future of renewable energy. The opportunity for growth here is enormous,” she said.
German investments in India’s renewable sector are expected to increase, with many companies looking to capitalize on India’s rapidly expanding solar industry. “This is not just about business—this is about creating a sustainable future for the next generation,” Schulze stressed.
Global Impact of India’s Energy Expansion
Minister Schulze underscored the global significance of India’s renewable energy progress. “A more competitive global solar market benefits everyone. By reducing dependence on a few key players, we enhance energy security worldwide,” she said. Germany has committed to furthering this partnership, with projects worth approximately 1 billion euros annually, much of it funded through loans raised by the KfW Bank.
Germany’s strategic focus on India comes at a time when the world is looking for alternatives to traditional energy suppliers. “Germany and the world need India’s engagement. We want to see more competition in the global solar market, and India is set to be a major player,” Schulze said.
As the conference progresses, Schulze is expected to meet with India’s Minister for New and Renewable Energy, Shri Pralhad Joshi, to launch the “India-Germany Platform for Investments in Renewable Energy Worldwide.” This initiative aims to bring together companies from both nations to drive investments and collaboration in renewable technologies.
A Partnership for a Greener Future
India’s rapid growth in the renewable sector, combined with Germany’s technical expertise and financial backing, promises to reshape the global energy landscape.
Schulze’s visit underscores Germany’s long-term commitment to India’s renewable ambitions, which will play a pivotal role in the fight against climate change. “Together, we can build a cleaner, greener future. India and Germany are showing the world that this is not only possible—it’s happening right now,” Schulze concluded.
