In a groundbreaking initiative, the European Energy Exchange (EEX), Indian Gas Exchange (IGX), and Gesellschaft für Internationale Zusammenarbeit (GIZ) have teamed up to create a hydrogen trading market in India. This initiative falls under the International Hydrogen Ramp-Up (H2Uppp) program, which is funded by the German Federal Ministry for Economic Affairs and Climate Action (BMWK).
The H2Uppp program is aimed at fostering green hydrogen projects in emerging economies, with a particular focus on India. The first step involves gathering market intelligence and cultivating a community to lay the groundwork for the hydrogen market’s expansion in the country.
The collaborative effort will bring together stakeholders across the entire hydrogen value chain, including those involved in production, trading, transport, and consumption, as well as key policymakers and regulators. The overarching objective is to develop a strategic action plan that will facilitate the launch of a hydrogen index and trading services in India.
Additionally, in February 2024, IGX solidified its role in this burgeoning market by signing a memorandum of understanding (MoU) with the ACME Group, aimed at jointly establishing a green hydrogen and ammonia market in India.
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