World Bank Approves $1.5 Billion Loan to Support India’s Green Hydrogen Push

• The World Bank has approved a second round of $1.5 billion in financing to help India accelerate its development of low-carbon energy. This funding aims to promote the market for green hydrogen, electrolysers, and increased renewable energy penetration.
• The initiative aligns with India’s National Green Hydrogen Mission and energy transition targets, including achieving 500 GW of installed renewable energy capacity by 2030 and reaching net zero by 2070.
• National Green Hydrogen MissionAligns with the ₹17,000-crore mission to promote electrolyser and green hydrogen manufacturing.
• $1.46 billion loan from the International Bank for Reconstruction and Development (IBRD) and $31.5 million credit from the International Development Association (IDA) already provided.

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Published date : 03 Jul 2024 05:14PM