New Delhi, June 5 -- International Finance Corporation (IFC), a World Bank Group arm, on Friday committed USD 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 USD 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...