Spain And India To Strengthen Alliance On Energy Security, Green Transition

Spain’s President H.E. Pedro Sánchez in his first visit to India and the first by a Spanish President in 18 years, expressed strong support for advancing collaborations that align with India’s ambitious renewable energy goals and infrastructure expansion at the Confederation of Indian Industry (CII) Spain-India Business Summit. 

Sánchez spoke on the potential for Spain’s expertise in renewable energy, especially solar and wind power, to help India reach its target of generating 500 gigawatts of renewable energy by 2030. “Spain is a world leader in clean energy. We have a lot to offer India with our experience in solar and wind power. Our expertise can help India reach its goal of 500 gigawatts of renewable energy by 2030. We are committed to partnering with India to boost its energy security and green transition. By combining Spanish innovation with India's potential, we can make a big impact on the global economy and the environment,” said he said.

India’s Minister of Road Transport and Highways, Nitin Gadkari, mentioned the synergy between India’s goals and Spain’s clean energy capabilities. He stated that India’s commitment to green energy and mobility, as part of its carbon-neutral goal for 2070, aligns well with Spain’s renewable technology. Joint ventures between the two nations could reduce production costs and boost competitiveness in the global market, he noted, adding that full government support would be extended to encourage these collaborations.

The summit also explored how Spain’s advanced infrastructure technology could support India’s growing demand for efficient and sustainable transport systems. President Sánchez spoke on Spain’s expertise in railway and subway systems, which he said could be invaluable for India’s expanding infrastructure projects. 

CII’s Director General Chandrajit Banerjee echoed Sánchez’s sentiment, expressing enthusiasm for partnerships in urban infrastructure, artificial intelligence, defense, and green technology. 

“Both countries are committed to joint ventures and co-development in defence to enhance capabilities and strategic autonomy. In renewable energy, India is embracing cleaner fuels like wind and solar power. Spain's expertise in this area could help us in our energy transition. From the Confederation of Indian Industry (CII) perspective, we want to advance our discussions and bring sectoral and senior-level business delegations to participate in global events,” Banerjee said.

Representing the Indian industry, Tata Chemicals’ CEO, R Mukundan, spoke on the unique value exchange that occurs when Indian companies partner with Spanish firms, from technology transfer to the setting of new quality standards. He noted that India’s growing market, which adds up to 20 million new consumers annually, offers an immense opportunity for Spanish companies to scale and access cost-effective global markets. 

“When we work with Spanish brands, there is a transfer of knowledge, a transfer of technology, and a transfer of standards of quality, which is very essential when addressing the Indian market. And for the Spanish company, India presents a huge opportunity - we are growing at a rate of USD 250 billion every year, adding 10-20 million new customers annually. The value which Spanish companies need to create when addressing the Indian market also gives them the ability to access price points that they couldn’t access before, allowing them to address global markets more cost-effectively,” said Mukundan.

In a statement, S N Subrahmanyan, Chairman and Managing Director, Larsen & Toubro said, “Spanish companies are unlike other companies we deal with internationally. They are willing to share technology, and not just overall technology, but core technology, which is important because, ultimately, if we truly want to become 'Aatmanirbhar,' we need to develop technology within our country. It is not enough to have broad agreements, and with Spanish companies, we often find that willingness to share.”