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Germany faces pivotal year for its energy transition

Germany’s economic fortunes have long been tied to its ability to meet its energy needs in an ever more power-hungry world, and Russia’s invasion of Ukraine nearly a year ago has naturally only served to bring this into sharper focus, in large part because until recently the country has run its economic growth engines on Russian gas. 

However, with the Russian gas taps now turned off, the country – which was at the vanguard of a feed-in tariff-provoked boom of development around two decades ago – has again turned up the dial on its renewables ambitions, last year increasing its 2030 renewable electricity target from 65% to 80%, and calling for 10GW of onshore wind and 22GW of solar to be built every year from 2026. 

This uptick in ambition has obviously not gone unnoticed, with international solar developers such as FRV and Grenergy in recent months flocking to the country with ambitious development targets, while incumbent developers have also looked to tap into this appetite and hoisted “for sale” signs on their shop windows. 

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