The World Bank's Board of Executive Directors approved $1.5 billion in financing for India's low-carbon energy development, emphasizing the promotion of green hydrogen and renewable energy. This operation is the second in a series aimed at boosting private investment in the energy sector. The initiative supports reforms to increase green hydrogen production and electrolyzers, critical for hydrogen production, and enhance renewable energy integration into the grid. India's fast-growing economy necessitates decoupling economic growth from emissions growth, which can be achieved through scaling up renewable energy and expanding green hydrogen production and consumption. The reforms supported are projected to lead to the production of 450,000 metric tons of green hydrogen annually by FY25/26, significantly increasing renewable energy capacity and reducing emissions by 50 million tons per year. India's efforts to establish a domestic market for green hydrogen have seen promising results, with strong private sector interest in National Green Hydrogen Mission tenders. The operation is aligned with the nation's energy security goals and the World Bank's Hydrogen for Development Partnership. With a $1.46 billion loan from IBRD and a $31.5 million credit from IDA, this initiative will play a vital role in advancing India's low-carbon development strategy.