India near finalisation of green energy corridors pact with Germany

India near finalisation of green energy corridors pact with GermanyThe Indian Government is in the process of early finalisation of an agreement with the European nation which will provide support for setting up green energy corridors for transmission of power.During his recent trip to Germany, the Power Minister Jyotiraditya Scindia had detailed discussions with Germany’s Minister of State for Economic Co-operation & Development Gudrun Kopp on the implementation of the Joint Declaration of Intent on Establishment of Green Energy Corridors signed during Prime Minister Dr Manmohan Singh’s visit to Berlin in April this year.According a statement released by the power ministry, the green energy corridors will enable evacuation of over 30,000 MW of renewable energy generated from wind and solar power during the 12th Five Year Plan in India into the national grid, for which Germany has committed to provide developmental and technical assistance of Euro 1 billion.“Germany has set ambitious targets of producing 50 per cent of its energy requirements from renewable sources by 2030 and 80 per cent by 2050. The progress made in developing renewable energy through onshore and offshore wind, solar and bio-mass in the last decade has been impressive and Germany is well on its way to meeting its targets. Germany has developed Rs.smart grids’ to integrate its growing share of renewable energy into the national grid and also significantly reduced carbon dioxide emissions by developing advanced gas turbines and trigeneration plants,” the statement adds.