The World Bank has approved $1.5 billion in financing to support India's efforts in developing low-carbon energy. This initiative is part of the second low-carbon energy programmatic development policy operation, with a focus on fostering a robust market for green hydrogen, expanding renewable energy, and stimulating investments in low-carbon energy. The goal is to help India decouple economic growth from emissions by scaling up renewable energy, especially in challenging industrial sectors. The financing will support reforms to enhance green hydrogen production, promote renewable energy integration through battery storage, and develop a national carbon credit market. The operation aims to produce at least 450,000 metric tons of green hydrogen and 1,500 MW of electrolyzers annually by 2025-26, along with significantly increasing renewable energy capacity and reducing emissions by 50 million tons per year. The World Bank's support aligns with India's energy security objectives and the Hydrogen for Development Partnership. Additionally, a $200 million loan was approved to assist Himachal Pradesh in achieving its target of adding 10 GW of renewable energy capacity and implementing power sector reforms.