en.Wedoany.com Reported - The International Finance Corporation (IFC) has committed $50 million in financing to Hygenco Green Energies to support the expansion of green hydrogen production in India. This investment is part of a $105 million multi-party co-financing plan, involving global investors and climate-themed funds such as Siemens Financial Services, the Clean Technology Fund, the Frontier Opportunities Fund, and the Fullerton Carbon Action Fund. Under the arrangement, the IFC will contribute $25 million from its own account, Siemens Financial Services will also invest $25 million, and the Fullerton Carbon Action Fund will provide up to $30 million. The IFC has also designed a blended finance mechanism to reduce investment risks and encourage greater private capital participation.

This funding will help Hygenco develop multiple large-scale green hydrogen projects and expand production capacity for green hydrogen and its derivatives, including green ammonia. By increasing capacity, Hygenco aims to provide affordable, reliable, and zero-emission clean fuels for traditionally hard-to-decarbonize industries such as refining, fertilizers, chemicals, steel manufacturing, and heavy transportation. This investment aligns closely with India's National Green Hydrogen Mission, which aims to position India as a global hub for green hydrogen production, utilization, and export. Hygenco's projects are expected to enhance India's clean energy infrastructure, support long-term industrial decarbonization, and reduce dependence on fossil fuels.

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