The European Energy Exchange (EEX), Indian Gas Exchange (IGX), and Gesellschaft für Internationale Zusammenarbeit (GIZ) have entered into an agreement to foster the development of a hydrogen trading market in India.
The collaboration is part of the International Hydrogen Ramp-Up (H2Uppp) initiative, supported by the German Federal Ministry for Economic Affairs and Climate Action (BMWK).
The H2Uppp program is designed to promote green hydrogen projects in key emerging economies, with an initial focus on gathering market intelligence and building a network of stakeholders in India to facilitate future market growth.
The initiative will engage various players from the hydrogen value chain, including those involved in production, trading, transport, and consumption, alongside policymakers and regulatory bodies.
The ultimate objective is to formulate an action plan that will pave the way for the creation of a hydrogen index and trading services in India.
As reported by renewablewatch.in, in February 2024, IGX and the ACME Group signed a memorandum of understanding to collaborate on the establishment of a green hydrogen and ammonia market in India.
