The World Bank has approved $1.5 billion in financing to support India's low-carbon energy development, with a focus on accelerating the growth of green hydrogen and renewable energy infrastructure. The funding will aid in promoting the development of a vibrant market for green hydrogen, scaling up renewable energy projects, and stimulating finance for low-carbon energy investments. It aims to decouple economic growth from emissions growth by scaling up renewable energy in hard-to-abate sectors, necessitating the expansion of green hydrogen production and consumption. The operation will support reforms to boost the production of green hydrogen and electrolysers, critical for green hydrogen production. By incentivizing battery energy storage solutions and improving renewable energy integration into the grid, the operation aims to increase renewable energy penetration. The reforms are expected to lead to the production of 450,000 metric tons of green hydrogen and 1,500MW of electrolysers annually from FY25-26 onwards, along with significant emissions reductions. The World Bank's support focuses on boosting private investment in green hydrogen and renewable energy infrastructure to help India achieve its net-zero target and create clean energy jobs. This operation aligns with India's energy security goals and the Bank's Hydrogen for Development Partnership, emphasizing the importance of developing a national carbon credit market and advancing sustainable energy practices.