India’s target of achieving 500 GW of renewable energy capacity and 125 GW for green hydrogen production by 2030 is a significant step towards a sustainable energy future. However, to achieve these targets, the transition must be rooted in resilient and eco-friendly practices. The GSDP conversation will focus on the financial investments required but also highlight the importance of sustainable political frameworks and social initiatives to ensure long-term benefits.
The German Embassy in New Delhi, under the Indo-German Partnership for Green and Sustainable Development (GSDP), is set to host a discussion on ‘Financing the Renewable Energy Revolution.’ This event, held as part of the International Solar Festival at Bharat Mandapam, will bring together leaders from politics, finance, and social sectors to explore ways to sustainably advance India’s clean energy ambitions.
“Germany has a long-standing commitment to renewable energy, grounded in our early decisions to innovate and take risks in developing sustainable technologies. Our partnership with India is not just about technology transfer; it is about supporting India's leadership in this global energy transition,” said Uwe Gehlen, Head of Development Cooperation at the German Embassy.
This partnership aims to integrate sustainability at every level of India’s energy transition, from financial strategies to social inclusion. Germany's focus is not limited to technology but extends to fostering local capacities and strengthening regulatory frameworks that encourage sustainable practices in the energy sector.
Ajay Mathur, Director General of the International Solar Alliance (ISA), highlighted how sustainability is at the core of the Indo-German partnership. “The collaboration between India and Germany can significantly accelerate the deployment of renewable technologies like solar, ensuring that these energy sources remain accessible, affordable, and sustainable,” said Mathur. “By leveraging our joint expertise, we can create momentum to achieve our shared goals of a resilient energy future.”
Sustainability at the Core of Renewable Energy Transition
The conversation series aims to address several critical areas of sustainability. Topics such as reducing the environmental risks associated with renewable energy investments, building capacity for social inclusion through skill development, and promoting sustainable political commitments will be central to the discussions. These elements are key to ensuring that the renewable energy transition does not compromise ecological balance or social equity.
Germany’s involvement is part of a broader effort to support India’s de-risking of its renewable energy investments and promote sustainable practices. From a sustainability perspective, this partnership looks at how renewable energy projects can be designed to minimise environmental degradation, promote local livelihoods, and reduce dependence on fossil fuels.
Paving the Way for RE-INVEST 2024 and Beyond
This event also sets the stage for RE-INVEST 2024, India’s premier platform for showcasing its renewable energy potential. The discussions and insights generated from this conversation will feed into broader sustainability goals, ensuring that investments and collaborations in the renewable energy sector are aligned with long-term environmental and social outcomes.
Building a Sustainable Indo-German Partnership
The Green and Sustainable Development Partnership (GSDP), launched in 2022 by Prime Minister Narendra Modi and German Chancellor Olaf Scholz, is rooted in the goals of the 2030 Agenda for Sustainable Development and the Paris Agreement. This partnership aims to advance the sustainability agenda by fostering collaboration in green energy, climate change mitigation, and resilient infrastructure development.
