The International Finance Corporation (IFC), the private-sector investment arm of the World Bank Group, has committed US$ 50 million to Hygenco Green Energies to support the expansion of green hydrogen production projects across India.
The investment is part of a broader $ 105 million financing package designed to strengthen the country’s emerging green hydrogen ecosystem. The funding consortium includes Siemens Financial Services, the Clean Technology Fund, Frontier Opportunities Fund, and Fullerton Carbon Action Fund, reflecting growing institutional confidence in India’s clean energy transition.
Under the arrangement, IFC will provide $ 25 million from its own account, while Siemens Financial Services will contribute an additional $ 25 million. Fullerton Carbon Action Fund is expected to invest up to $ 30 million. IFC has also structured blended finance facilities to help mitigate investment risks and encourage greater participation from private investors.
The capital infusion will enable Hygenco Green Energies to scale its green hydrogen platform through the development of multiple commercial-scale projects. The company plans to expand the production of green hydrogen and value-added derivatives such as green ammonia, targeting industries where decarbonisation remains particularly challenging.
The investment is expected to strengthen domestic production capabilities, enhance supply chain development, and support the objectives of India’s National Green Hydrogen Mission. By increasing the availability of low-carbon energy solutions, the initiative aims to accelerate the adoption of sustainable industrial practices while reducing dependence on fossil fuels.
In addition to environmental benefits, the expansion programme is projected to generate significant economic opportunities. Hygenco estimates that its planned projects will create more than 1,000 direct jobs over the next five years, alongside a substantial number of indirect employment opportunities across the green hydrogen value chain.