European Non-Profit Proposes Collaboration to Boost Indian Green Hydrogen Market
Key Ideas
- Indian green hydrogen sector faces challenges in securing long-term buyers due to pricing uncertainties.
- Hintco, in partnership with H2Global, proposes a model for collaborative agreements to stabilize green hydrogen supply-demand.
- Government support through initiatives like the national green hydrogen mission aims to position India as a global leader in green hydrogen production.
- The initiative includes budget allocation of ₹19,744 crore towards achieving 40% green hydrogen consumption target by 2030.
A European non-profit organization, Hintco, is addressing a crucial challenge in India's green hydrogen sector by proposing a collaboration to ensure long-term buyers for green hydrogen producers. The absence of long-term purchase agreements has hindered further development despite advancements in technology and investments. Hintco, a subsidiary of H2Global, aims to facilitate stable supply-demand frameworks by brokering agreements between Indian producers and foreign buyers through bilateral auctions. This model, already being tested in Canada, could potentially bridge the cost disparity gap and boost the green hydrogen market. The Indian government's ambitious target to meet 40% of hydrogen consumption with green hydrogen by 2030 is being supported by initiatives like the national green hydrogen mission, which includes a substantial budget allocation. This initiative not only positions India as a global leader in green hydrogen but also emphasizes the importance of government collaboration and market development in the energy transition towards cleaner fuels.