The World Bank sanctions USD 1.5 billion to bolster the green hydrogen market in India

In order to help India catalyse its low-carbon energy development, the World Bank has greenlit a loan of USD 1.5 billion to India, which is eyed at augmenting the Indian green hydrogen market along with electrolysers and renewable energy adoption.
 
The World Bank’s move is aimed at allowing India to reinforce the green implementation and penetration of renewable energy in the Indian market and propel the economics of low-carbon energy.

As India's economy is anticipated to proliferate, decoupling this growth from rising emissions is critical. Scaling up renewable energy is essential for this transition. The World Bank's financing will aid the Indian government in mobilising more investments, especially from the private sector, in the energy sector.

Beyond financial support, the World Bank's energy programs will continue to emphasise renewable energy generation, including offshore wind and floating solar. Efforts will also be directed towards enhancing energy efficiency and collaborating with the government to develop efficient systems, such as green buildings.

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The program will also focus on integrating renewable energy into the grid. To accommodate a higher proportion of renewable energy, the grid code will need to be amended. Additionally, the program aims to encourage the adoption of battery energy storage solutions to ensure round-the-clock clean power availability, further promoting green energy penetration.