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Will India and Germany become leading players in boosting green energy?

India's thrust: Green growth

India and Germany are set to jointly work on boosting ways for the increase of green energy. The move will ensure energy security as well. Krishan Pal Gurjar, Minister of State for Heavy Industries has also held a meeting with Wolfgang Tiefensee, Minister of Economic Affairs, Science and Digital Society who led a delegation from Germany to India.

India and Germany are already looking to set up an Indo-German Green Hydrogen Task Force to strengthen mutual cooperation in production, utilization, storage and distribution of green hydrogen through building enabling frameworks for projects, regulations and standards, trade and joint research and development (R&D) projects.

According to an official statement, the meeting assumes significance as India and Germany are working to strengthen their cooperation in the areas of research and development mainly in exploring alternate EV battery chemistries such as sodium ion, aluminum-air among other things, creating a robust supply chain of rare earth minerals including nickel and cobalt.

Also read: World’s largest floating solar plant in Madhya Pradesh steps up India’s go-green drive

As the world continues to grapple with the energy crisis, India with its size and unique climatic conditions, is aggressively boosting its renewable sector after Prime Minister Narendra Modi last year announced that New Delhi will achieve net-zero carbon emissions by 2070.

A host of countries are now looking to increase investments for renewable energy in India even as issues related to payments, land acquisition and grid access continue to pose a challenge.

According to OilPrice.com, an energy news portal, foreign investors have been partnering with local energy producers in India to fund the development of the country’s solar power sector. India has already received funding from Singapore, Norway, and the UAE among others.