The World Bank has approved a $1.5 billion loan to support India's green hydrogen initiatives and its overall low-carbon energy development. This funding is part of India's broader efforts to transition to sustainable and renewable energy sources. The loan aims to boost the development of green hydrogen, electrolysers, and renewable energy infrastructure.
Green hydrogen is produced by splitting water into hydrogen and oxygen using renewable electricity. This technology is seen as a key element in achieving significant reductions in carbon emissions across various sectors, including transportation, industry, and energy production.
The funding will also support India's commitment to reducing its carbon footprint and enhancing its capacity to meet international climate goals. The initiative aligns with India's ambition to increase its renewable energy capacity and transition to a more sustainable energy mix.
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