The World Bank has approved $1.5 billion in financing to accelerate India's development of low-carbon energy. The funding is aimed at promoting low-carbon energy by scaling up renewable energy, developing green hydrogen, and stimulating climate finance for low-carbon energy investments. The focus is on enhancing the market capability for green hydrogen and boosting renewable energy penetration. The financing will also incentivize battery energy storage solutions and amend the Indian Electricity Grid Code for improved integration of renewable energy. The operation supports reforms to boost the production of green hydrogen and electrolyzers, critical technologies for green hydrogen production. It is expected to result in the production of 450,000 metric tons of green hydrogen and 1,500 MW of electrolyzers annually from the financial year 2025-26 onwards. Additionally, the financing will help increase renewable energy capacity, reduce emissions by 50 million tons per year, and support the establishment of a national carbon credit market. The reforms are crucial for India to decouple economic growth from emissions growth and align with the goal of sustainable development.