The World Bank has approved $1.5 billion in financing to accelerate India's development of low-carbon energy, with a strong focus on green hydrogen production. This investment is part of the Second Low-Carbon Energy Programmatic Development Policy Operation, following a previous $1.5 billion approval in June 2023. The financing will support green reforms to boost the production of green hydrogen and electrolyzers, critical technologies for green hydrogen production. Additionally, it aims to enhance the market capability for green hydrogen, scale up renewable energy, and stimulate climate finance for low-carbon energy investments. The reforms supported by the operation are expected to result in the production of at least 450,000 metric tons of green hydrogen and 1,500 MW of electrolyzers per year from the financial year 2025-26 onwards. The initiative also targets increasing renewable energy capacity and supporting reductions in emissions by 50 million tons per year. The World Finance Organisation emphasizes the importance of decoupling India's economic growth from emissions growth by promoting renewable energy in hard-to-abate industrial sectors and developing a national carbon credit market. Overall, the financing reflects a positive step towards India's transition to a greener and more sustainable energy landscape.