| Financier | Commitments |
|---|---|
| IDA Credit | 56.57 |
| International Bank for Reconstruction and Development | 1443.43 |
First Low-Carbon Energy Programmatic Development Policy Loan
Abstract*
The development objective of the First Low-Carbon Energy Programmatic Development Policy Operation for India is to accelerate the development of low-carbon energy in India. The operation consists of three pillars: (a) promoting green hydrogen (GH); (b) scaling up renewable energy (RE); and (c) enhancing climate finance for low-carbon energy investments. Show More
Development Objective
To accelerate the development of low-carbon energy in India.
Key Details
Project Details
P181032
Closed
Xiaodong Wang , Surbhi Goyal, Dhruv Sharma
India
April 18, 2023
(as of board presentation)
June 29, 2023
November 28, 2023
US$ 0.00 million
Ministry of New and Renewable Energy
2023
US$ 1500.00 million
N/A
November 10, 2023
December 31, 2023
BANK APPROVED
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | 1443.43 |
| IDA Commitment | 56.57 |
| IBRD + IDA Commitment | 1500.00 |
| Lending Instrument | |
|---|---|
| Grant Amount | N/A |
| Total Project Cost** | N/A |
Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Dec 20, 2023 | IDA-73750 | Loan Disb | 56,428,576.00 |
| Dec 20, 2023 | IBRD-95740 | Loan Disb | 1,439,821,440.00 |
| Nov 28, 2023 | IBRD-95740 | Fee Charges | 3,608,575.00 |
| Nov 28, 2023 | IBRD-95740 | Loan Disb | 3,608,575.00 |
| Nov 28, 2023 | IDA-73750 | Fee Charges | 141,425.00 |
| May 15, 2024 | IDA-73750 | Int Charges | 1,496,942.80 |
| May 15, 2024 | IBRD-95740 | Int Charges | 38,195,724.00 |
| Jun 29, 2023 | IDA-73750 | Loan Commitment | 56,570,000.00 |
| Jun 29, 2023 | IBRD-95740 | Loan Commitment | 1,443,430,020.00 |
| Nov 28, 2023 | IDA-73750 | Loan Disb | 141,425.00 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Program Management | Satisfactory | 2023-09-29 |
| Progress towards achievement of PDO | Satisfactory | 2023-09-29 |
| Monitoring and Evaluation | Satisfactory | 2023-09-29 |
| Overall Implementation Progress (IP) | Satisfactory | 2023-09-29 |
COMPLETION RATINGS
No data available.
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Domestic electrolyzer manufacturing capacity incentivized Value 0.00 0.00 3.00 Date June 30, 2023 September 8, 2023 June 30, 2026 Comment Number of additional green hydrogen safety standards notified Value 0.00 0.00 10.00 Date June 30, 2023 September 8, 2023 June 30, 2026 Comment Share of renewable energy in power consumption Value 25.00 25.00 33.00 Date June 30, 2023 September 8, 2023 June 30, 2026 Comment Share of solar/wind with/through energy storage in total power consumption Value 0.00 0.00 2.00 Date June 30, 2023 September 8, 2023 June 30, 2026 Comment Additional bids for renewable energy capacity issued Value 0.00 0.00 75.00 Date June 30, 2023 September 8, 2023 June 30, 2026 Comment Greenhouse gas emissions avoided Value 0.00 0.00 40000000.00 Date June 30, 2023 September 8, 2023 June 30, 2026 Comment Offshore wind sites awarded Value 0.00 0.00 4.00 Date June 30, 2023 September 8, 2023 June 30, 2026 Comment Capacity for domestic manufacturing of high-efficiency solar photovoltaic cells and modules added Value 0.00 0.00 48.00 Date June 30, 2023 September 8, 2023 June 30, 2026 Comment Launch of national carbon market Value No No Yes Date June 30, 2023 September 8, 2023 June 30, 2026 Comment Increase in issuance of cumulative onshore green debt securities Value 0.00 0.00 30.00 Date June 30, 2023 September 8, 2023 June 30, 2026 Comment Sovereign green bonds issued Value 2.30 2.30 6.00 Date June 30, 2023 September 8, 2023 June 30, 2026 Comment Green hydrogen production capacity incentivized Value 0.00 0.00 3000000.00 Date June 30, 2023 September 8, 2023 June 30, 2026 Comment