The World Bank has approved $1.5 billion in financing to support India's development of low-carbon energy, focusing on green hydrogen and renewable energy initiatives. India, as the fastest-growing large economy, aims to separate economic growth from emissions growth by increasing renewable energy adoption, especially in challenging industrial sectors. The operation includes support for green hydrogen production and electrolyzer technologies critical for green hydrogen. By incentivizing battery energy storage and improving renewable energy integration into the grid, the operation seeks to enhance renewable energy penetration. The initiative builds on a previous $1.5 billion financing operation that supported the waiver of transmission charges for renewable energy and established a legal framework for a national carbon credit market. The reforms are projected to generate 450,000 metric tons of green hydrogen annually, support 1,500 MW of electrolyzers, increase renewable energy capacity, and reduce emissions by 50 million tons per year. This effort aligns with India's net-zero target and aims to create clean energy jobs in the private sector. The financing, comprising a $1.46 billion IBRD loan and a $31.5 million IDA credit, supports India's energy security objectives and the World Bank's Hydrogen for Development Partnership.