The World Bank has approved $1.5 billion in financing to bolster India's efforts in accelerating the development of low-carbon energy, particularly focusing on green hydrogen production and electrolysers. This 'Low-Carbon Energy Programmatic Development Policy Operation' aims to support reforms that will enhance the production of green hydrogen, a critical step towards green energy transition. The operation aligns with India's energy security goals and the World Bank's Hydrogen for Development (H4D) Partnership. It is anticipated that these reforms will lead to the annual production of 450,000 metric tonnes of green hydrogen and 1,500 MW of electrolysers starting from FY25/26, further aiding in the expansion of renewable energy capacity and reducing emissions by 50 million tonnes per year. Furthermore, the initiative will facilitate the growth of a national carbon credit market, emphasizing the importance of sustainable practices. The World Bank's Country Director for India, Auguste Tano Kouame, expressed satisfaction in supporting India's low-carbon development strategy, aiming to help the country reach its net-zero target while generating employment opportunities in the clean energy sector. By focusing on enhancing private investment in green hydrogen and renewable energy, the operation endeavors to drive economic growth while mitigating emissions. India's commitment to fostering a domestic market for green hydrogen, alongside the rapid expansion of renewable energy capacity, has been commendable. The World Bank's earlier approved operation in June 2023 paved the way for crucial developments such as waiving transmission charges for renewable energy in green hydrogen projects, launching renewable energy tenders, and establishing a legal framework for a national carbon credit market. The continuous collaboration between India and the World Bank signifies a positive trajectory towards sustainable energy practices, economic growth, and emission reductions.