New renewable energy investments in India will be financed by oil-wealth from the UAE.
India remains one of the largest countries in the world lacking in renewable energy production, with most of its electricity coming from coal and gas. But a new partnership with the UAE has been announced in which the Arabic country will help to invest in major renewable projects.
India’s goal is to add 500 Gigawatts of renewable electricity production in just seven years, to finally start catching up with developed countries.Reuters had some background to where this plan originated in a recent report.
It’s investments like these from oil-rich countries by investing in projects in developing countries that can make the biggest and fastest difference in achieving global carbon neutrality.
The reality simply is that without countries like China and India, it’s simply not going to be possible to reduce carbon emissions as much as is needed.
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