Cyril Amarchand Mangaldas (CAM), AZB & Partners, Talwar Thakore & Associates (TT&A) and Khaitan & Co have advised on Hygenco Green Energies Private Limited’s US$105 million fundraise.
A consortium comprising the International Finance Corporation (IFC), Siemens Financial Services and Fullerton Carbon Action Fund executed definitive agreements to invest up to US$105 million in Hygenco, marking one of the largest private capital commitments to India’s green hydrogen sector.
The investment is expected to support the scaling of green hydrogen production and contribute towards the objectives of India’s National Green Hydrogen Mission.
Cyril Amarchand Mangaldas advised Hygenco and its promoters on the fundraise.
The CAM transaction team was led by Partners Amarta Roy and Ishita Khandelwal, with support from Principal Associate Shreya Teewari, Consultant Parnika Malhotra, Senior Associate Bharti Singh and Associate Aeruva Akash.
AZB & Partners also advised Hygenco on the fundraise.
The AZB team comprised Senior Partner Anuja Tiwari, Partners Mallika Anand and Pranjal Bhattacharya, and Associate Noor Dewan.
Talwar Thakore & Associates advised IFC and Fullerton Asset Management on their proposed investment in Hygenco in multiple tranches, with an aggregate commitment of up to US$105 million.
The TT&A team comprised Joint Managing Partner Gautam Saha; Partners Amrita Patnaik, Akshay Malhotra and Pooja Menon; Managing Associate Kush Saggi; Senior Associate Shamik Gupta; and Associate Eshani Agarwal.
Khaitan & Co advised Siemens on its investment in Hygenco.
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