Washington, July 9: The World Bank has said, India is emerging as a front runner in the global fight against climate change. In news report published yesterday World Bank said with a sweeping commitment to solar power, innovative solutions and energy efficiency initiatives to supply its people with 24x7 electricity by 2030.
Noting that Indian government is setting ambitious targets that include 160 gigawatts of wind and solar energy by 2022, the bank said it is an incentive for international firms to invest in India’s solar market.
According to the World Bank, with its conscious choice to use significantly more clean energy to fuel its growth, India is contributing to global efforts to save the planet from the effects of climate change.
Clearly, the market agrees, as is evident from the significant drop in the cost of solar power. In its latest solar auction, the country achieved a record low tariff of INR 2.44/unit (4 cents/unit) for a project in the desert State of Rajasthan, the report said.
Notably, Modi government is setting ambitious targets that include 160 gigawatts (GW) of wind and solar by 2022, the World Bank said that not only will this help hundreds of million people light their homes it will also enable children to study at night, provide families with refrigerators to preserve their food or TVs to entertain themselves.