The World Bank has approved an additional $1.5bn loan to support India’s green hydrogen and renewable energy plans, slated to result in the production of 450,000 tonnes of hydrogen.
Under the bank’s Second Low-Carbon Energy Programmatic Development Policy Operation, the loan will support “reforms” to bolster green hydrogen production and electrolysers, as well as renewable energy penetration.
Expected to result in the production of 450,000 tonnes of green hydrogen and 1.5GW of electrolyser per year from 2025/26, the reforms are also hoped to support steps in developing a national carbon credit market.
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