Commodities and Futures News

Germany taking steps to transition to green economy

2023.01.09 09:08


Germany taking steps to transition to green economy

By Tiffany Smith

Budrigannews.com – On Monday, the federal network agency of Germany announced that it had identified 5,000 kilometers (3,107 miles) of its network for upgrades. These upgrades will be crucial to plans to accelerate the transition to a more environmentally friendly economy.

The Bundesnetzagentur, the natural regulator, has planning authority over 7,300 kilometers of grid. It reports to the economy ministry, which has the same goal of spreading solar energy from the south and wind energy from the north of Germany and increasing the use of renewable energy.

Klaus Mueller, the authority’s president, stated in a statement, “The renewable energy generated in the north of the country must be transported.”

He continued, “We pressed on with our procedures very intensively in 2022 and will continue to accelerate them in every conceivable way.”

Germany intends to construct 14,000 kilometers of high voltage grids, with four transmission grid companies (TSOs) working with the central regulator and state level authorities.

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Berlin has accelerated planning and approval procedures to facilitate the adoption of renewable energy since the Green Party gained prominence as part of the coalition government established at the end of 2021.

Germany taking steps to transition to green economy

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