World Bank Boosts India's Green Hydrogen Mission with $1.5 Billion Loan
Key Ideas
  • The World Bank approved an additional $1.5 billion loan for India's Green Hydrogen Mission, totaling $3 billion, to strengthen the domestic green hydrogen market and attract private investment.
  • The initiative focuses on reforms to enhance green hydrogen production, including critical technologies like electrolyzers, aiming for an annual production of 450,000 metric tonnes of green hydrogen and 1,500 MW of electrolyzers by FY 2025-26.
  • The program also supports reforms to promote renewable energy and incentives for battery energy storage solutions, with the objective of creating 600,000 inclusive jobs, particularly for women, by fostering sustainable practices and economic growth.
  • Auguste Tano Kouame, the World Bank's Country Director for India, praised India's rapid progress within a year, highlighting the potential for the country to become a leading global producer of green hydrogen.
The World Bank has approved an additional $1.5 billion loan to support India's Green Hydrogen Mission, bringing the total assistance to $3 billion. This initiative is aligned with the National Green Hydrogen Mission and aims to strengthen India's domestic green hydrogen market while driving reforms to attract private investment. Auguste Tano Kouame, the World Bank's Country Director for India, commended India's swift progress, noting significant achievements and the issuance of tenders amounting to $70 billion. The programmatic development policy cooperation will facilitate reforms to enhance green hydrogen production, with a focus on critical technologies like electrolyzers. Additionally, the program supports reforms to promote renewable energy and offers incentives for battery energy storage solutions. The goal is to achieve an annual production of 450,000 metric tonnes of green hydrogen and 1,500 MW of electrolyzers by FY 2025-26, with a strong emphasis on private sector involvement. Kouame highlighted reduced risks due to government measures and stressed the need for swift regulatory frameworks to attract more private players. The initiative aims to create 600,000 jobs, particularly for women, through sustainable practices and economic growth, positioning India as a global leader in green hydrogen production.
ADVANCEH2

Our vision is to be the world's leading online platform for advancing the use of hydrogen as a critical piece needed to deliver net-zero initiatives and the promise of a clean H2 energy future.

© 2024 AdvanceH2, LLC. All rights reserved.