The World Bank's Board of Executive Directors has approved $1.5 billion in financing for a second operation in India to accelerate the development of low-carbon energy. This initiative aims to boost the market for green hydrogen, scale up renewable energy, and stimulate finance for low-carbon investments. The operation focuses on reforms to increase green hydrogen production, electrolyzers, and renewable energy penetration. The goal is to achieve economic growth decoupled from emissions growth, particularly in hard-to-abate industrial sectors. The operation plans to support the production of green hydrogen and electrolyzers, increase renewable energy capacity, and reduce emissions by 50 million tons per year. It also aims to develop a national carbon credit market and boost private investment in green hydrogen and renewable energy. This initiative is aligned with India's energy security goals and the World Bank's Hydrogen for Development Partnership.