Power Minister R. K Singh invites German Companies to invest in India
On that note, he said, "We are globally acknowledged as one of the most attractive destinations for investment in RE.”
Union Minister for Power Shri R.K Singh.
New Delhi: Union Minister Power and New & Renewable Energy, Government of India Shri R. K Singh had a round table meeting with major German companies today on May 3, 2022, virtually. The meeting was about their expansion in India.
Singh mentioned, that India has emerged as the most attractive destination for investment in RE and we have huge programs for capacity addition and Energy Transition. We have the fastest rate of growth of Renewable Energy capacity in the world and we are going to add huge capacities in Battery Storage, Green Hydrogen, and Green Ammonia for our own purposes and for export as well.
We will be one of the biggest markets for Green Hydrogen in the world and we shall manufacture at the most competitive prices. I invite Germany to source their green hydrogen and green ammonia requirements from India on their path to Energy Transition, he added.
Earlier, Yesterday the Minister signed the joint declaration of intent between the Ministry of New and Renewable Energy (MNRE) Government of India and the Ministry of Economic Affairs and Climate Action, Germany on the ‘Indo-German Green Hydrogen Task Force’. On that note, he said, "We are globally acknowledged as one of the most attractive destinations for investment in RE.”
Further, in today's meeting, he also invited German companies operating in this sector to come and compete in the manufacturing of High-Efficiency Solar Cells and modules to set up a capacity of 50,000MW. Moreover, the India and Germany signed 9 such agreements on the occasion of the 6th India-Germany Inter-Governmental Consultations
He discussed the huge opportunities for Off-Shore Wind in India as we plan to have a capacity of 30,000MW of Offshore wind in our country.
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