Germany Trade and Invest

1st German American Energy Conference: Growing Ties in Renewable Energies Market

Berlin (ots) - The sustainable energy supply is a key issue at the forefront of the German-American trade partnership. Despite the global recession, the renewable energies industry continues to project growth. The 1st German American Energy Conference will be held from March 30 to April 2, 2009 in Berlin to discuss the prospects of expanding the transatlantic sustainable energy partnership.

Germany, driven by the eastern federal states, is a global leader in renewable energies production, including photovoltaic, wind, and biofuels, while the United States is the world's largest energy consumer and has seen a dramatic growth of its renewable energies industry in recent years. Currently, President Obama's dedication to sustainable energy sources promises an even higher profile for the sector. Cooperation between these two industry giants has strong implications for the renewable energies industry worldwide.

To underscore the increasing cooperation, the 1st German American Energy Conference is the opening conference in a planned series of biennial meetings that will be held in rotation between the United States and Germany. The theme of this year's conference is "Renewable Energy Boom USA." Organized under the umbrella of the Transatlantic Climate Bridge project of the German Federal Foreign Office, partners include the Federation of German Industries (BDI) and Germany Trade and Invest, as well as the German Energy Agency (DENA) and the German American Chambers of Commerce (GACC). Parliamentary State Secretary Ulrich Kasparick of the Federal Ministry of Transport, Building and Urban Affairs will be presenting on economic development through renewable energies, in which he will highlight the success story of eastern Germany.

Upward trends in this industry are expected to continue, as can be seen by the ongoing policy commitment in Germany, particularly in the renewable energy powerhouse region of eastern Germany. Renewable energies account for over EUR 30 billion in sales and 280,000 jobs in Germany, including 13,459 workers in photovoltaic in eastern Germany alone. The industry expects further investments in this sector to continue, despite the economic downturn.

The transatlantic partnership in this industry is expected to flourish. In a recent survey by the American Chamber of Commerce (AmCham), Germany was the most attractive location in Europe for American investors. One of the primary reasons listed was Germany's ability to better withstand the global recession than other nations. The heavy investment in growth sectors like renewable energies is a major factor, as this industry continues to grow as others scale back.

Germany Trade and Invest will have industry experts present to answer questions and discuss opportunities to invest in Germany's renewable energies and resources industry as well as opportunities for German companies in the US. The conference, held at the Ludwig-Erhard-Haus in Berlin, hopes to further expand cooperation in this sector, with conference topics including the direction of the industry in both countries, business partnerships, and the future of the transatlantic energy dialogue.

Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises and supports foreign companies seeking to expand into the German market and assists companies established in Germany looking to enter foreign markets. All inquiries are treated confidentially.

Media Contact

Eva Henkel
T. +49 (0)30 200 099-173
F. +49 (0)30 200 099-111
Eva.Henkel@gtai.com
www.gtai.com

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