The World Bank’s Board of Executive Directors has approved $1.5 billion for a second operation to accelerate India’s low-carbon energy development. This initiative aims to build a robust market for green hydrogen, expand renewable energy, and stimulate low-carbon investments. As the fastest-growing large economy, India must decouple growth from emissions by increasing renewable energy, especially in hard-to-abate industrial sectors. The operation supports reforms to boost green hydrogen production, incentivize battery energy storage, and improve renewable energy integration into the grid. This follows the first operation in June 2023, which advanced renewable energy and green hydrogen projects
