German Nuclear Exit to Boost Renewables, Energy Grid Investments

June 7, 2011

BERLIN and SEATTLE, June 7, 2011 /PRNewswire/ — Germany’s government
last week confirmed a complete nuclear phase-out by 2022, paving the way for
an accelerated shift to renewable energy. This will require major investments
in the electricity grid and energy storage technologies. Germany is already
pursuing solutions, with several model regions developing new industry
standards. These activities create excellent business opportunities in the
German market. Germany Trade & Invest is hosting an event on June 8 in
Seattle to share the latest developments and investment opportunities in
Germany, especially in the growing eastern regions.

“Smart energy management is a key component of our future energy supply.
With one of the world’s leading renewable energy industries and a highly
innovative IT sector, Germany is in an outstanding position to take the lead
globally. Investors benefit from excellent conditions here,” said Dr. Juergen
, Chief Executive of Germany Trade & Invest in Berlin.

Germany already boasts 17 percent renewable electricity from sources like
wind and solar power, which do not have a base load. A large fluctuating
energy supply requires smart grids and energy storage to balance supply and
demand, which can be achieved by shifting consumption or storing energy for
later use. Software and IT solutions are a key component for the advancement
of smart energy management.

A first-rate telecommunications and electricity grid is a prerequisite
for the expansion of smart metering and grid technologies. Germany receives
excellent marks in this area. In its 2010 Global Performance Index, the World
Economic Forum ranked Germany’s telecommunications and transportation
infrastructure first worldwide. Partial credit goes to massive infrastructure
investments in eastern Germany since reunification in 1990.

Germany has six model regions that receive funding for the development of
different aspects of future smart grid technologies and standards. The
Regenerative Model Region Harz (RegModHarz), for example, is developing a
virtual power station that groups renewable power generators, consumers and
energy storage facilities to prove that stable, reliable and
consumer-oriented electrical power is achievable from renewable sources.

Germany Trade & Invest is the foreign trade and inward investment
promotion agency of the Federal Republic of Germany. The organization advises
foreign companies looking to expand their business activities in the German
market. It provides information on foreign trade to German companies that
seek to enter foreign markets.

    Germany Trade & Invest
    Andreas Bilfinger
    Email: andreas.bilfinger@gtai.com
    T: +49(0)30-200099-173
    F: +49(0)30-200099-111

SOURCE Germany Trade and Invest

Source: newswire

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