IFC Leads $105 Million Multi-Investor Financing Package in Hygenco Green Energies to Scale Green Hydrogen and Green Ammonia Production in India
The International Finance Corporation (IFC), part of the World Bank Group, has committed $50 million to Hygenco Green Energies Private Limited as part of a $105 million financing package aimed at expanding green hydrogen production across India. The funding includes contributions from Siemens Financial Services, Fullerton Carbon Action Fund, and other climate-focused investors.
The investment will support the development of large-scale green hydrogen and green ammonia projects serving industries such as refining, chemicals, fertilisers, heavy manufacturing, and transport. Hygenco’s Hydrogen-as-a-Service model allows industrial customers to access green hydrogen without making large upfront investments.
Aligned with India’s National Green Hydrogen Mission, the expansion is expected to create over 1,000 direct jobs within five years and strengthen the country’s clean energy transition while attracting further private-sector investment into the green hydrogen sector.