Although building a dam involves significant social and economic costs, including the forced relocation of locals, the ability of dams to avert floods and other environmental advantages of using hydropower make them an absolute necessity for all nations, particularly those most impacted by global warming. There are currently more than 57,000 significant dams around the globe that generate a total of 4,300 TWh of hydropower. 40% of all renewable energy produced globally and 16% of all electricity generated worldwide is produced by hydroelectricity. The Three Gorges Dam in China, which was built at a staggering cost of $37 billion and boasts a volume of 39.3 billion cubic metres, is the largest dam in the world. With a 391 GW generation capacity, China is the world’s greatest producer of hydropower. This accounts for about 28% of the hydroelectricity that is generated globally. The Big Renaissance Dam in Ethiopia. The Grand Ethiopian Renaissance Dam, which will be built in 2023, is among the most significant dams being built. It will produce 6,450 MW of hydroelectricity and is Africa’s largest hydroelectric plant. Its building cost was $4 billion. Despite the dam’s enormous significance as a source of dependable electricity for 60% of Ethiopians and as a step towards Africa’s “green transition” towards renewable energy, it has also put Egypt’s and Sudan’s downstream water supplies in jeopardy, prompting both nations to voice their opposition.
