Hygenco Green Energies Pvt may sell a 49% stake to a consortium including the World Bank’s International Finance Corp. for $125 million, helping the Indian company to realize its goal to develop 10 gigawatts of green hydrogen production capacity by the end of the decade, Mint newspaper reportedBloomberg Terminal, citing unidentified people.
The consortium includes Germany’s Siemens AG and Singapore’s Fullerton Fund Management, according to the report. The IFC plans to invest $50 million in equity, while Siemens and Fullerton Fund Management would account for the rest.
India’s Hygenco May Sell 49% Stake for $125 Million, Mint Says
