India tops global Green Hydrogen supply with $9.5 bn in deals: Pralhad Joshi
Synopsis
Key Takeaways
India has emerged as the world leader in Green Hydrogen supply commitments, with offtake contracts signed by Indian companies surpassing 5,55,610 metric tonnes per annum (MTPA) as of October 2026, the government announced on Thursday, 29 October 2026. The aggregate investment behind these deals exceeds ₹90,000 crore (approximately $9.5 billion), according to an official statement.
Minister of New and Renewable Energy Pralhad Joshi described the achievement as a transformative moment for India's clean energy ambitions. 'Indian developers have secured 23 major contracts, accumulating over 5.5 lakh MTPA in supply commitments. With over 70 per cent dedicated to global exports, this milestone is driving ₹90,000 crore in clean energy investments. This massive milestone accelerates India's journey toward global net-zero leadership and green job creation,' Joshi said.
Landmark Deals Driving the Surge
The bulk of the momentum has been built in 2026 alone, when Indian companies signed 18 new offtake agreements covering over 4 lakh MTPA of Green Hydrogen equivalent supply — a remarkable acceleration from prior years.
Among the headline deals, ACME Group has signed an offtake agreement with IHI, Japan for the supply of 4,88,000 MTPA of Green Ammonia, and a separate agreement with Mitsubishi Gas Chemical (MGC), Japan for 1,00,000 MTPA of Green Methanol.
Reliance Industries Limited (RIL) has entered a long-term Supply and Purchase Agreement with Samsung C&T Corporation, South Korea, valued at over $3 billion — one of the largest Green Ammonia offtake contracts globally. Deliveries under this agreement are expected to begin by 2028.
L&T and ITOCHU have formed a Special Purpose Vehicle (SPV) for the supply of 3,00,000 tonnes per annum (TPA) of Green Ammonia, with deliveries targeted to commence from December 2029.
India Targets European and Japanese Markets
According to the official statement, Indian suppliers are offering what the government describes as 'the world's most competitive prices' for Green Ammonia and Green Methanol, with strong positioning in European and Japanese markets. Green Ammonia is also emerging as a clean bunkering fuel for the global shipping sector and is being deployed for ammonia co-firing in thermal power plants to reduce carbon emissions.
AM Green has secured three significant deals, including being selected as the sole winner of the Asian lot in the 'H2Global' auction run by Hintco — a long-term supply arrangement for Renewable Fuels of Non-Biological Origin (RFNBO) ammonia to Germany, with a minimum purchase value of 585 million euros over 10 years, with first deliveries expected in 2029. AM Green has also signed a firm offtake agreement with Uniper, Germany for 2,50,000 MTPA of Green Ammonia and a binding head of agreement with JERA, Japan's major power producer, for 70,000 MTPA of Green Ammonia.
Jouno Joules has signed an offtake agreement with Select Energy GmbH for 600 tonnes per day (TPD) — approximately 2,19,000 MTPA — of Green Ammonia. Additionally, Agastya is in the process of finalising an offtake for the supply of 2,50,000 MTPA of Green Methanol to SAR, Sri Lanka.
Domestic Demand Being Locked In Under SIGHT
Alongside the export push, substantial domestic demand has been consolidated under the Strategic Interventions for Green Hydrogen Transition (SIGHT) Programme, part of India's National Green Hydrogen Mission. Under this framework, agreements have been signed for the production and supply of 6,70,000 MTPA of Green Ammonia to 11 fertiliser units across India.
Separately, SIGHT Programme projects have been awarded for the supply of 30,000 MTPA of Green Hydrogen to refineries of IOCL, BPCL, HPCL, and NRL. Worldwide, Green Hydrogen derivatives are increasingly being adopted in the fertiliser production and refining sectors to enable industrial decarbonisation.
What This Means for India's Net-Zero Goals
This comes amid intensifying global competition in clean hydrogen, with the European Union, Australia, and Saudi Arabia all racing to lock in long-term supply chains. India's success in securing binding offtake contracts — as opposed to memoranda of understanding — marks a qualitative shift, providing a firmer foundation for the capital-intensive production infrastructure required. Notably, the concentration of deals in Japan, Germany, and South Korea reflects the alignment of India's cost advantages with the decarbonisation mandates of its key trading partners. How quickly these commitments translate into actual production capacity and job creation will be the next critical test.