World Bank approves Rs. 12,600 crore for India’s clean energy transition

The World Bank said that it approved a $1.5 billion (around Rs. 12,600 crore) financing for scaling up renewable energy, producing green hydrogen, supporting carbon markets and stimulating climate financing.

“The World Bank’s Board of Executive Directors approved $1.5 billion in financing to accelerate India’s development of low-carbon energy. The financing will help India promote low-carbon energy by scaling up renewable energy, developing green hydrogen, and stimulating climate finance for low-carbon energy investments,” the World Bank said.

The First Low-Carbon Energy Programmatic Development Policy Operation – the first in a series of two envisaged operations – will support India in developing green hydrogen, it added.