The Ministry of New and Renewable Energy (MNRE) and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH India on behalf of the Government of Germany, signed an agreement on technical cooperation under the “Indo-German Energy Program – Green Energy Corridors (IGEN-GEC), ” to improve the framework for market mechanisms and regulations for integration of renewable energies.
The IGEN-GEC program is commissioned by the Federal Ministry for Economic Cooperation and Development.
Under the program, the GIZ and MNRE will also work to advance technical and institutional conditions in specified target states, regions and on national level and add strategic, managerial, financial, and technical to handle renewable energies integration in an efficient and effective manner.
“I am delighted that this relationship between GIZ and India will result in improved market mechanisms and regulations, help us train manpower, to ensure grid stability & integration of renewables into grid and ensure safer & secure grid and a grid which can take cyber challenges,” said Mr. Piyush Goyal, Minister for Power.
In November 2016, the German government-owned development bank, KfW, provided €1 billion (~$1.05 billion) in a soft loan to India to develop inter and intra-state transmission infrastructure under the green energy corridor program.
Image credit: MNRE, PIB
Saumy is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism & Mass Communication from the Manipal Institute of Communication at Manipal University. More articles from Saumy Prateek.