World Bank Approves $1.5 Billion for India's Low-Carbon Energy Development
| Aspect | Details |
|---|---|
| Funding Amount | $1.5 billion |
| Purpose | Accelerate development of low-carbon energy |
| Key Focus Areas | Green hydrogen market, electrolyser production, renewable energy penetration |
| Alignment | India's National Green Hydrogen Mission and energy transition targets |
| Targets | 500 GW installed renewable energy capacity by 2030, net zero by 2070 |
| First Round Funding | $1.5 billion (June 2023) |
| Expected Outcomes | 450,000 MT green hydrogen/year, 1,500 MW electrolysers/year, 50 MT emission reduction/year |
| Financial Structure | $1.46 billion (IBRD loan), $31.5 million (IDA credit) |
| Strategic Importance | Aligns with ₹17,000-crore National Green Hydrogen Mission, boosts private sector investment |
| World Bank Statements | Support for India's low-carbon strategy, clean energy jobs, private sector interest |