The World Bank has approved $1.5 billion in financing to support India in accelerating the development of low-carbon energy. The funding aims to promote the development of a vibrant market for green hydrogen, scale up renewable energy, and stimulate finance for low-carbon energy investments. The operation includes reforms to boost the production of green hydrogen, electrolysers, and renewable energy penetration. The reforms are expected to result in the production of 450,000 metric tons of green hydrogen and 1,500MW of electrolysers per year, contributing to increasing renewable energy capacity and reducing emissions. The operation also supports steps to further develop a national carbon credit market, aligning with India's green energy initiatives and the Nationally Determined Contributions targets. The financing includes a $1.46 billion loan from the International Bank for Reconstruction and Development and a $31.5 million credit from the International Development Association. This financial support is crucial for India's energy security and aligns with the country's goals for a sustainable energy future.