Company settlements prove this
Habeck: “Upswing East” thanks to renewable energy
6/13/2022, 6:39 p.m
In East Germany, renewable energy is often available. An increasingly important economic factor for Economics Minister Habeck. Large companies would increasingly rely on it, as the examples Tesla or Intel show. In this way, the regional economy can continue to catch up.
Federal Minister of Economics Robert Habeck sees a locational advantage for eastern Germany due to the high availability of green electricity in many regions. “The demand for renewable energies is increasingly becoming an economic factor,” said Habeck in a speech at the East German Economic Forum in Bad Saarow. In general, he spoke of an impressive economic catch-up in the East.
Habeck admitted that there was still a productivity gap to the detriment of the East. However, this has become significantly smaller and “the trend is clearly upwards”. East Germany “is catching up at great speed and is already superior to the West German economy in individual sectors,” said the minister.
This can also be seen in the recent large company settlements, Habeck referred to, for example, Tesla, Intel and BMW battery production. He spoke of a “blatant dynamic” in the East. However, many companies have made it clear that “the availability of renewable energy” was decisive for their choice of location.
It also plays a role that the costs of generating renewables are now lower than those for fossil or nuclear energy. This is an important competitive advantage, since at least in parts of East Germany “the wind and sun conditions are excellent”.