Since construction began in 2015, Bhadla Solar Park has slowly grown to cover an enormous 5,700-hectare desert site with solar panels. And today it generates enough electricity to power 4.5 million homes. Presented by Cummins.
As the world slowly moves toward renewable energy, one of the most complex dimensions of the transition is the obligation imposed upon developing countries, which also suffer some of the worst impacts of climate change. Why should emerging markets sacrifice growth to meet climate targets, when they were not the nations that caused the climate crisis in the first place?
"There was very little experience in India, and there were no real airtight regulations that had been tested," said Mohua Mukherjee, an economist at the Oxford Institute for Energy Studies, who used to oversee the World Bank's Indian Solar Energy program. "With our $200 million we were able to mobilize $112 million in additional cofinancing just on this project, which has resulted in 5.6 million tonnes of CO2 reduced, and it has put 2.7 gigawatts of installed capacity on the ground."
And the scale is paying off around the world. Today, solar is the cheapest form of energy the world has ever seen, according toHiccups and learnings
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