Companies buy a large number of carbon offsets that do not reduce emissions

With its 34 wind turbines perched on a hill in southwestern India, the Tuppadahalli wind farm generates green energy and profits.

The wind farm and three others in India are owned by Acciona SA, an 8.1 billion euro Spanish infrastructure conglomerate that last year went public with its renewables business. Tuppadahalli is performing so well that an Indian credit rating firm upgraded it, citing its strong cash position, modest debt and long-term contracts to sell power.


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