The World Bank has recently sanctioned a $1.5-billion loan to assist India in advancing its low-carbon energy initiatives, with a specific focus on green hydrogen, electrolysers, and renewable energy projects. This marks the second phase of financial support from the World Bank to bolster India's green energy sector, with the previous $1.5-billion loan primarily aimed at fostering renewable energy projects and establishing a legal framework for a national carbon credit market. The newly approved funding will further enhance green hydrogen production and consumption while also expediting climate finance development in the country. The World Bank's programmatic development policy operation will facilitate reforms to promote green hydrogen and electrolyser production, crucial for the creation of green hydrogen. Moreover, it seeks to elevate the penetration of renewable energy by incentivizing battery energy storage and amending the Indian Electricity Grid Code for improved integration of renewables. India's ambitious energy transition goals encompass achieving 500 GW of renewable energy capacity by 2030 and attaining net zero emissions by 2070. In line with these objectives, the government launched the National Green Hydrogen Mission worth ₹17,000 crores to stimulate the manufacturing of electrolysers and green hydrogen. The World Bank's operation complements these endeavors by waiving transmission charges for renewable energy in green hydrogen initiatives, initiating 50 GW of renewable energy tenders annually, and establishing a national carbon credit market. The reforms are poised to yield a substantial output of green hydrogen and electrolysers annually from FY25-26 onwards, further augmenting renewable energy capacity and slashing emissions by 50 million tonnes per year. Additionally, the program supports the establishment of a national carbon credit market, aligning with India's energy security objectives and the Bank's Hydrogen for Development (H4D) partnership. The financial assistance comprises a $1.46-billion loan from the International Bank for Reconstruction and Development (IBRD) and a $31.5-million credit from the International Development Association (IDA).