Indian green hydrogen firm secures $105m from global investors
In the UK, Gas World reported that Hygenco Green Energies has raised $105 million in equity financing from the International Finance Corporation (IFC), Siemens Financial Services, and the Fullerton Carbon Action Fund to support the development of green hydrogen and ammonia projects in India.
The India-headquartered firm said the three investors will provide “financial depth, commercial discipline, and industrial backing” to support the scale-up of its project portfolio.
Hygenco, which is developing a 1.1 million ton-per-year green ammonia plant in Odisha, plans to invest up to $2.5 billion in green hydrogen and ammonia projects to achieve 10GW of production and distribution assets by 2030, according to the report.
The company said the new capital will support project development and attract additional asset-level investment into green hydrogen and ammonia projects, it added.
Category: Hydrogen
