Adani Unveils World's Largest Renewable Energy Park
The German Watch, a non-governmental organization, has ranked India fourth strongest in its annual report on global climate activities. India received high rankings in greenhouse gas emissions, energy use indicators, climate policy, and renewable energy deployment, showcasing improvement compared to the previous year. The Climate Change Performance Index evaluates countries based on their climate actions, with Denmark topping the list, followed by Estonia and the Philippines.
The report highlights that China, being one of the top 20 countries with significant oil and gas reserves, plans to increase its gas production by 2030, which conflicts with the 1.5-degree Celsius target. Adani Group’s Chairman, Gautam Adani, expressed pride in India’s recognition as the fourth strongest globally in climate performance, emphasizing the country’s commitment to sustainable development.
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India aims to become the world’s largest hub for renewable energy production with the development of the Khavda Renewable Energy Park. Adani Green Energy Limited (AGEL) announced a follow-on funding of $1.36 billion for this project, involving agreements with eight major international banks. Asia is emerging as a leader in renewable energy, with China, India, and Vietnam making significant contributions to the region’s renewable energy capacity.
India, the third-largest energy-consuming nation globally, has witnessed a remarkable 396% increase in non-fossil fuel capacity over the past 8.5 years. The country’s renewable energy capacity, especially solar, has seen substantial growth, contributing around 43% to the total capacity. India achieved a 9.83% growth in renewable energy in 2022, with installed solar capacity reaching 70.10 gigawatts by July 2023.
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India’s goal by 2030 is to produce five million tons of green hydrogen. The German Watch report emphasizes the need for India to phase out coal rapidly, reduce dependence on gas, and expand its renewable energy capacity to meet its 2070 net-zero target.
