EEX, IGX, and GIZ Join Forces to Boost Hydrogen Trading Market in India
Key Ideas
- EEX, IGX, and GIZ are partnering to support India's hydrogen trading market development under Germany's H2Uppp program.
- The project aims to gather market insights and engage stakeholders to establish a hydrogen trading market in India.
- Key figures like Peter Reitz, Rajesh Mediratta, and Tobias Winter express enthusiasm for the collaboration and the potential of hydrogen in India's energy transition.
- The initiative is seen as a significant milestone for India's green energy sector with the mission to become a global green hydrogen hub.
The European Energy Exchange (EEX) and the Indian Gas Exchange (IGX) have teamed up with the Gesellschaft für Internationale Zusammenarbeit (GIZ) to facilitate the growth of India's hydrogen trading market. This partnership falls under the H2Uppp program, funded by the German Federal Ministry for Economic Affairs and Climate Action. The collaboration's primary focus is on gaining market insights, involving various stakeholders, and creating a local community to lay the foundation for a robust hydrogen trading market in India. The initiative aims to bring together industry players involved in hydrogen production, trading, transport, and consumption, along with policymakers and regulators, to devise an action plan. The long-term vision includes introducing a hydrogen price index and trading services in India. Key figures from EEX, IGX, and GIZ have expressed optimism about the collaboration. Peter Reitz from EEX stressed the global importance of hydrogen in the energy transition, while Rajesh Mediratta from IGX highlighted the partnership as a pivotal moment for India's green energy sector. Tobias Winter from GIZ emphasized the potential of establishing India as a global green hydrogen hub through initiatives like the hydrogen price index. The project signals India's commitment to green energy and aligning with international best practices in the hydrogen sector.