
Vipul Garg
Senior Specialist in Hydrogen & Ammonia Pricing at S&P Global Platts; host of Commodities Focus podcast covering energy transition and renewable markets.
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May 27, 2026
India's renewable hydrogen projects face cost, delay risks from global conflicts
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10:48
11:10
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10:08Ruchira SinghHOST
So would you like to demystify this, uh, renewable hydrogen price of India and speak about, um, how the assessments are derived and, uh, what goes into getting this, uh, price?

Vipul GargGUEST
We do assess a long-term renewable hydrogen price for India, which is for a fifteen- to twenty-five-year tenure, and, uh, the volume for it is five to twenty-five KTPA, which generally matches with the refinery and, uh, ammonia tenders we have seen if we translate the ammonia volume to hydrogen.

Vipul GargGUEST
So this is not a typical, you know, cost-based approach that the market generally follows.

Vipul GargGUEST
What we mean by a market-based price is we collect offers, bids, indicative values, and all this, uh, price indications from the market participants, and we use a spectrum of market participants to collect the information, ranging from buyers, sellers, you know, and, uh, different agencies, and, uh, then arrive at a price every week.

Vipul GargGUEST
And this price is a price at which a deal can be concluded for renewable hydrogen in India, you know.
8 MINS LATER
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18:48Ruchira SinghHOST
Uh, what is the signal, uh, Vipul, you're getting about, uh, the competitors for, uh, the Indian, uh, market?