Germany to invest €200 billion in renewables by 2020

A joint statement by German environment minister Jurgen Trittin and the director of the UN Environment Programme Klaus Toepfer has unveiled plans by German companies to invest some €200 billion in renewable energy in the next 15 years.

Germany aims to export €15 billion per year worth of goods linked to the renewable energy sector by 2020, while in 2004 the sector generated revenues of around €11.5 billion with a predicted a growth rate of more than 10% per year for the next 15 years.