The World Bank has approved a $1.5 billion loan to support India's green hydrogen initiatives, with a focus on accelerating the development of low-carbon energy in the country. The funding will play a crucial role in promoting the production of green hydrogen and electrolyzers, essential technologies for green hydrogen production. Through the Second Low-Carbon Energy Programmatic Development Policy Operation, India aims to create a vibrant market for green hydrogen, scale up renewable energy, and attract finance for low-carbon energy investments. India, known as the fastest-growing large economy globally, is on a trajectory of rapid expansion. To decouple economic growth from emissions, there is a strong emphasis on scaling up renewable energy, especially in challenging industrial sectors. This transition necessitates an increase in green hydrogen production, faster development of climate finance, and the promotion of a national carbon credit market. The approved operation will support reforms to enhance green hydrogen and electrolyzer production, along with boosting renewable energy penetration. These reforms include incentivizing battery energy storage solutions, amending the Indian Electricity Grid Code for better renewable energy integration, and supporting the development of a national carbon credit market. It is expected that these reforms will lead to the annual production of 450,000 metric tons of green hydrogen, 1,500 MW of electrolyzers, and a significant increase in renewable energy capacity. The operation, in alignment with India's net-zero target and energy security goals, focuses on attracting private investments in green hydrogen and renewable energy. By supporting India's journey towards achieving its Nationally Determined Contributions targets, the operation is pivotal in scaling up investments in green hydrogen and renewable energy infrastructure. The funding includes a $1.46 billion loan from the International Bank for Reconstruction and Development (IBRD) and a $31.5 million credit from the International Development Association (IDA). This initiative reflects the commitment of both the World Bank and India towards sustainable development and a greener, low-carbon future.