Transatlantic network discusses financing the green transformation

Bottlenecks in regulation and financing must be eliminated to drive green energy transformation

Washington DC/Berlin, November 15, 2021 – Developing a climate-neutral energy supply is the biggest investment project of this century. At the Transatlantic Sun&Wind Belt Roundtable, leaders from the U.S. and Germany shared their views on how to secure financing for the green transformation. It became clear that in the U.S. and in Germany, current instruments are not sufficient to accelerate the expansion of renewable energies fast enough to reach climate goals.


Before even talking about financing, the regulatory environment must be adapted. “Right now, the problem is not the lack of available capital or the willingness to invest – it is the lack of investment projects!” said Dr. Jörg Kukies, State Secretary at the German Federal Ministry of Finance at the beginning of the event. Christian Kern, former Chancellor of Austria, Managing Director at The Blue Minds Co. shared this view: “We have already lost too much time. Policymakers must act quickly, eliminate regulatory bottlenecks for wind and PV projects and drive the energy transition forward with generous funding and smart regulation.”


When it comes to identifying the right financing instruments, a more in-depth exchange between the U.S. and Germany would add value for both sides. “When it comes to financing green transformation projects, we face similar issues in the U.S. and Germany. Exchanging best practices on how to provide investment security and incentivize investments would be beneficial for stakeholders in both countries,” said Trond Rokholt, Managing Director of the New York Green Bank. The biggest U.S. green investment bank finances large and small-scale renewable energy projects and aims to attract private-sector capital to accelerate the deployment of clean energy throughout New York state.


To prevent a future financing gap when the number of RE projects increases, Dr. Gerald Prodobnik, CFO of Deutsche Bank Corporate Bank, called for the evaluation and necessary adjustment of measures. “Investments in the expansion of renewable energies are characterized by high volatility and a long duration. Therefore, we need to establish reliable framework conditions in order to secure funding for these projects.” In addition, in developing projects, “investments by SMEs as well as large players, but also by private investors, must be both promoted and secured,” Christian Kern said.


One of the main takeaways from the discussion was that German and U.S. companies are basically facing the same challenges and opportunities for a strategic realignment. “We have the technologies, and we have the potential. Renewables are even cheaper than fossil sources, and investors are ready to step in on both sides of the Atlantic. The key is now to create reliable framework conditions to get the investments into the market,” said Milan Nitzschke, founder of the Transatlantic Sun&Wind Belt.


More than 25 representatives from industry and energy suppliers from the United States and Germany participated in the virtual roundtable of the transatlantic business initiative. The initiative’s goal is to create a transatlantic network for the exchange of best practices to promote the energy transition and the expansion of renewable energies.

About “The Transatlantic Sun&Wind Belt”
The Transatlantic Sun&Wind Belt Initiative is the first transatlantic business initiative to promote the further enhancement of the green transformation and drive in-depth cooperation. The initiative engages in active dialogue with political stakeholders and promotes the exchange of expertise, experience and investment between the U.S. and Germany – the two largest market-based leaders in renewable energy development and deployment. Website: www.sunandwindbelt.com

Press Contact
Sophia Tischinger
M +49 151 72 83 88 50
s.tischinger@sunandwindbelt.com

Social Media
LinkedIn: https://www.linkedin.com/company/sun-wind-belt/
Twitter: https://twitter.com/sunandwindbelt

New transatlantic business initiative Sun&Wind Belt launched successfully

Berlin/Washington, 08/18/2021 Sun&Wind Belt is the new transatlantic business initiative on green transformation – driven forward by companies. Sun&Wind Belt brings together businesses on both sides of the Atlantic whose aim is to support politics with plans to ensure decarbonization. On August 16, Sun&Wind Belt hosted a virtual roundtable with a broadly positioned lineup of keynote speakers and participants. As a next step forward, Sun&Wind Belt will develop concrete proposals for a successful energy transition and actively approach policymakers on both sides of the Atlantic.

Successful kick-off with a virtual roundtable

Overall, more than 25 company representatives participated in the kick-off event of Sun&Wind Belt. Among the participants were some of Europe’s and America’s biggest windturbine and solar panel manufacturers as well as innovators in the field of battery technology, hydrogen and e-mobility and industrial energy users. Together with experienced speakers, the prerequisites for a successful energy transition in Germany and the U.S. were discussed from different angles.

Milan Nitzschke, RE expert and founder of the Sun&Wind Belt, gave a brief introduction on the initiative. He explained that “we already have the technologies to make energy transition a success – renewables are already cheaper than fossil technologies and ubiquitously disposable. Now we only need to deploy them”. Peter Beyer (MP), Transatlantic Coordinator of the German Federal Government, gave insights into the perks of a closer transatlantic cooperation in climate issues: “If we work together and set standards, the U.S. and Germany will accelerate the deployment of carbon-free technologies and accelerate energy transition on both sides of the Atlantic.”

Charlie Dent, Executive Director and Vice President of the Aspen Institute Congressional Program based in Washington DC, took a closer look in deploying renewable energies from a U.S. perspective: “The Bipartisan Infrastructure Bill is a major step towards the clean energy transition. An initiative of businesses from both sides of the Atlantic will help to build on this groundwork to gain speed and quality both in the U.S. and Germany.” Dan Byers, Vice President of the Energy Institute of the U.S. Chamber of Commerce, dived deeper into the regulatory situation on the U.S. side and highlighted needs for action. “We need decisions that endure for longer than one legislation period – and we need them now. Both our countries need to align on policies to enable a bidirectional investment flow across the Atlantic “, he said. “We have a lot of opportunities and face common challenges across the pond at the moment – having a platform to identify and work together on these challenges is a great thing.”

A closer cooperation between U.S. and Germany is a logical step

One key takeaway from the discussion was that Germany and the U.S. stand at the same point on their way to a more sustainable future. As the two leading market economies in advancing green technologies, they share joint interests, similar issues and common challenges. Sun&Wind Belt wants to build on these connections to bring together companies that can accelerate the deployment of renewable energies by working closer together. In the course of the roundtable, four main pillars for a successful energy transition were identified:

  1. Financing the green transformation
  2. Effective and reliable regulation
  3. Exchange of best practices and innovation
  4. Security of Energy supply, geostrategies and security issues

These four pillars define the areas of action in which the Sun&Wind Belt will engage.

Actively advocate policymakers both in the U.S. and Germany

In order to make fast progress in establishing the right standards for enabling a successful energy transition, the Sun&Wind Belt develops proposals for each of the above-mentioned pillars. These proposals serve as a basis to approach policymakers on both sides of the Atlantic with the goal of removing barriers for renewable energy expansion. Alongside this, the Sun&Wind Belt aims at establishing a lively and fruitful transatlantic network by scheduling regular meetings in smaller circles to discuss current topics and work on the concrete action items.

About Sun&Wind Belt
Sun&Wind Belt is the first transatlantic initiative to promote the green transformation and enhance mutual business on this basis – driven forward by companies. The initiative engages in active dialog with political stakeholders and promotes a mutually beneficial exchange of know-how, experiences and also investment flows between the U.S. and Germany, the two pioneers of renewable energies. The transatlantic Sun&Wind Belt is company-driven, which is why it takes a very pragmatic point of view. The initiative sets a clear focus on the future of renewable energies and common, practical approaches that help Germany and the U.S. shape a renewable future.

Press Contact
Sophia Tischinger
M +49 151 72 83 88 50
s.tischinger@sunandwindbelt.com

Social Media
LinkedIn: https://www.linkedin.com/company/sun-wind-belt/
Twitter: https://twitter.com/sunandwindbelt