00:03 As one of the world’s fastest growing economies,
00:06 India is actively promoting green hydrogen to reduce carbon emissions from
00:10 industries that are set to grow as the economy expands.
00:14 Green hydrogen has a unique advantage,
00:16 as it is one of the most promising
00:18 ways to replace fossil fuels in critical industries,
00:22 such as fertilizers,
00:23 oil refineries,
00:24 iron and steel,
00:26 and long haul transportation.
00:29 Without green hydrogen,
00:30 it will be too difficult to decarbonize these industries.
00:35 But what is green hydrogen and how is it produced?
00:39 Green hydrogen is produced when renewable energy like wind or
00:43 solar power is used to split the water molecule,
00:46 producing clean green hydrogen gas that can be used to fuel industries.
00:51 How will India benefit from green hydrogen?
00:54 Green hydrogen will not only help India
00:57 reduce emissions from carbon intensive industries,
01:00 but will also help lower the import cost
01:02 of expensive fossil fuels and improve energy security.
01:07 How is the World Bank supporting India’s efforts?
01:11 The World Bank is helping India catalyze the
01:13 development of green hydrogen with a three-pronged approach.
01:18 One,
01:18 by helping India develop policies and regulations for the new sector.
01:23 2,
01:24 as the production of green hydrogen depends on renewable energy,
01:28 the World Bank is helping India scale up solar
01:30 and wind power and develop ways to store it.
01:33 And 3,
01:35 as this transition will need more funds than the public sector alone can provide.
01:39 The World Bank is helping reduce risks faced by investors as they
01:44 move into new areas like battery storage or green hydrogen production.
01:49 All this will help create new jobs in the country.
01:53 As India transforms its energy landscape,
01:56 green hydrogen can be a game changer,
01:59 towards a cleaner,
02:00 more sustainable future for all.
