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. Scaling clean energy investment into emerging and developing economiesDeveloping green hydrogen for low-carbon energy in IndiaThe first Low-carbon Energy Programmatic Development Policy Operation will support India in developing green hydrogen (along with stimulating climate finance for low-carbon energy investment and scaling up renewable energy). India’s National Green Hydrogen Mission, approved at the beginning of 2023, has an overarching objective to make the country a global hub for production, use and export of green hydrogen and its derivatives. Of referenceHow to make the energy transition a just change for allRenewable energy and green bonds for low-carbon energy futureThe First Low-Carbon Energy Programmatic Development Policy Operation is also supposed to scale up renewable energy supply thereby reducing costs and improving grid integration. The World Bank sees a national carbon market as essential to provide a level playing field between low-carbon energy and fossil fuels.

Source: The North Africa Journal July 04, 2023 07:29 UTC