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Report November 3, 2026

From Molecules to Markets

Building India’s Green Fuel Hub

By Ankur Malyan, Aparajit Pandey, Dhakshin Kumar, Sakhi Shah, Jagabanta Ningthoujam, Parimal Kogekar, Abby Martin, and Alan Zenagui

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India is emerging as a competitive location for green ammonia and methanol production, supported by low-cost renewable energy and enabling national and state policies. At the same time, growing decarbonization requirements in Europe are creating significant potential demand for green hydrogen derivatives across shipping, aviation, and industry. The opportunity is significant, but converting emerging supply and demand into bankable value chains remains a challenge.

Several commercial barriers remain. Finding a price point that offtakers are willing to pay is the first barrier; but even when that barrier is crossed, aligning available supply of volumes with the scale and timing of individual offtakers’ demand remains a major hurdle. Even when price and volumes can be matched, green fuel producers typically require long-term offtake commitments to finance projects, while many offtakers require shorter and more flexible contracts. Infrastructure presents an additional challenge as storage, handling, bunkering, and export facilities require investment certainty even as future fuel volumes are still developing.

This report explores the development of a Green Fuel Hub Market Development and Commercialization Facility to help bridge these gaps.

The report highlights:

  • The emerging demand opportunity across European shipping, aviation, and refinery markets.
  • India’s competitiveness as a green fuel supplier, including the cost of producing and delivering green ammonia and methanol to international markets.
  • The business case for relative European sectors to use India hydrogen derivative imports.
  • Commercial models for Green Fuel Hubs that can address price, volume, and contract-tenure mismatches while coordinating infrastructure investment with emerging demand.

By connecting demand-supply matching with infrastructure development, this report provides a pathway to translate India’s green fuel production advantage into bankable projects and scalable domestic and international markets.

Authors

Ankur Malyan

Ankur Malyan

Dhakshin Kumar

Dhakshin Kumar

Sakhi Shah

Sakhi Shah

Senior Associate
Jagabanta Ningthoujam

Jagabanta Ningthoujam

Parimal Kogekar

Parimal Kogekar

Abby Martin

Abby Martin

Associate
Alan Zenagui

Alan Zenagui

Associate

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