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Business News/ Industry / Energy/  Germany’s KfW to provide technical expertise to Indian offshore wind projects
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Germany’s KfW to provide technical expertise to Indian offshore wind projects

The bank is also keen to help develop the green hydrogen ecosystem in India and is in talks with companies like NTPC

Renewable energy collaboration has become a key aspect of the bilateral relationship between India and Germany. (Image source: Pixabay)Premium
Renewable energy collaboration has become a key aspect of the bilateral relationship between India and Germany. (Image source: Pixabay)

New Delhi: Germany’s development bank KfW plans to share its expertise in offshore wind energy with Indian companies, including NTPC. Wolf Muth, KfW’s India director, said the bank will provide technical expertise and conduct feasibility studies to support India's offshore wind initiatives.

“We came up with providing technical expertise and feasibility studies. We’ve had sessions here with technical experts from Germany promoting offshore wind. These are the kinds of things where we can bring in our expertise," Muth told Mint.

The bank is keen to help develop the green hydrogen ecosystem in India and has been approached to help support India’s national green hydrogen mission, said Muth.

“We are in close discussions with partners here on the Indian side. NTPC, for example, is a partner where we have had discussions on green hydrogen and offshore wind," he added.

Renewable energy collaboration has become a key aspect of the bilateral relationship between India and Germany. The two sides announced a new Green and Sustainable Development Partnership (GSDP) during a meeting between Indian Prime Minister Narendra Modi and German Chancellor Olaf Scholz in 2022. Germany committed to providing at least €10 billion in assistance to India for its green and sustainable development ambitions. Under the partnership, the two countries created an Indo-German Green Hydrogen Task Force.

“Under the agreement which was signed today both countries will establish 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," the two countries said after the Modi-Scholz summit in May 2022. 

The task force held its first meeting in September 2022 and brought together top officials from India’s new and renewable energy ministry and Germany’s economic affairs and climate action ministry. 

KfW, which aims to significantly increase its funding for India to well over €1 billion a year, has put significant resources into India’s renewable sector.

“Through KfW, Germany is promoting the construction of solar farms, the installation of solar panels on roofs of companies and private households, and the expansion of hydropower. At the same time, over one billion euros is being provided to support ‘green energy corridors’, which connect solar, wind and hydropower plants to the Indian electricity grid," the bank said.

KfW has also worked closely with India's financial institutions like SBI to provide lines of credit for the development of solar power. Power firms like REC Ltd have signed several agreements with KfW for loans to develop new renewable technologies.

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Published: 27 Dec 2023, 06:10 PM IST
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