International Finance Corporation (IFC), Siemens and Fullerton invest $105 million in Hygenco Green Energies

Key facts

• The International Finance Corporation (IFC), Siemens Financial Services and Fullerton Carbon Action Fund have announced an equity investment of $105 million in Hygenco Green Energies.
• The investment breakdown includes $25 million from IFC, $25 million from Siemens, and up to $30 million from Fullerton.
• Additional funding is provided via two blended-finance facilities, with $20 million from the Clean Technology Fund of the Climate Investment Funds (CIF) and $5 million from the Frontier Opportunities Fund supported by the German government.
• Hygenco previously received a $25 million equity investment from the State Bank of India (SBI) Ventures-managed Neev II Fund in 2022.
• Hygenco is a recipient of the Production Linked Incentive (PLI) under the Strategic Interventions for Green Hydrogen Transition (SIGHT) programme and currently operates two commercial green hydrogen plants in India.