International Finance Corporation (IFC), a World Bank Group arm, on Friday committed $50 million to Hygenco Green Energies Private Ltd to promote green hydrogen in India.IFC, together with Siemens Financial Services, Clean Technology Fund, Frontier Opportunities Fund, and Fullerton Carbon Action Fund, signed a definitive agreement for a collective amount equivalent to $105 million investment into green hydrogen solutions platform Hygenco.The proposed funding to the holding company platform will support the development of multiple commercially attractive green hydrogen projects, scaling the supply of competitive, seamless, high-quality green molecules to industrial customers nationwide, a joint statement said.For this purpose, Hygenco aims to mobilise additional private sector investments at the asset company level for production of green hydrogen and green hydrogen derivatives (including green ammonia), it said.By expanding the production capabilities and strengthening supply chains, Hygenco aims to deliver zero-emission green molecules to hard-to-abate industrial sectors, playing a transformative role in the country’s energy transition and directly supporting India’s National Green Hydrogen Mission, it said.The company will also support the creation of more than 1,000 direct jobs over five years, while generating indirect employment opportunities across the green hydrogen value chain and the broader industrial ecosystem, as per the statement.Together, this partnership aims to scale a commercially viable model, pioneer Hydrogen-as-a-Service, and expand the supply of affordable and reliable green hydrogen solutions, while signalling confidence in the sector’s long-term growth potential, Imad N Fakhoury, Regional Division Director for South Asia, IFC said.By supporting India’s emerging green hydrogen sector, the investment reflects the World Bank Group’s broader commitment to innovation, sustainable industrial growth, and economic opportunity in India, he added.“Green hydrogen represents the most tangible and effective pathway toward decarbonising many hard-to-abate sectors. We are pleased to have new investors place their trust in our vision and operational capabilities to lead this critical industrial transition,” Hygenco CEO Amit Bansal said.IFC is investing $25 million from its own account, Siemens is investing $25 million, and Fullerton is investing up to $30 million.This is complemented by two blended finance facilities implemented by IFC to help de-risk the platform and attract private investment. The Clean Technology Fund, a programme of the Climate Investment Funds (CIF), is investing $20 million, while the Frontier Opportunities Fund, supported by the government of Germany, is providing $5 million, it added.Published on June 5, 2026