Germany offers India $2.25 bn for solar, clean energy

18 MoUs have been signed between the two countries

Prime Minister Narendra Modi welcomes German Chancellor Angela Merkel as she arrived for the ceremonial reception at the forecourt of Rashtrapati Bhawan in New Delhi on Monday
Prime Minister Narendra Modi welcomes German Chancellor Angela Merkel as she arrived for the ceremonial reception at the forecourt of Rashtrapati Bhawan in New Delhi on Monday
Reuters New Delhi
Last Updated : Oct 05 2015 | 4:00 PM IST
Germany will provide India more than 2 billion euros ($2.25 billion) for developing a clean energy corridor and solar projects, Indian Prime Minister Narendra Modi said on Monday after talks with Chancellor Angela Merkel.

Modi has made ambitious renewable energy targets a key part of his development agenda and climate change mitigation commitments ahead of a landmark international summit in Paris at the end of this year.

"I admire German leadership in clean energy and commitment to combating climate change," Modi told journalists after meeting Merkel, who was on a three-day visit to India.

India and Germany inked 18 MoUs in areas ranging from renewable energy to skill development and culture.

"From Renewable Energy to Skill Devel't & Culture, the full spectrum of human endeavour in the 18 MoUs signed today," tweeted external affairs ministry spokesperson Vikas Swarup.

The two leaders also want to resume talks for a free trade deal at the earliest opportunity.

"They... underlined their sustained commitment to a comprehensive trade and investment agreement between the EU and India, and committed themselves to bringing about the earliest possible resumption of talks," said a joint declaration issued after the two leaders met in New Delhi.

The two sides also announced setting up of a fast-track system for German companies in India.

($1 = 0.8873 euros)

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First Published: Oct 05 2015 | 2:52 PM IST

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