Separate interest from bankable demand Hydrogen attracts attention because it can connect renewable power with industrial processes that need a molecule rather than electricity alone. The commercial challenge is that an interested buyer is not necessarily ready to change its plant, accept a new price or sign a long contract. For developers in BRICS markets, the first development milestone should be evidence of a workable customer use case. A large production target cannot substitute for a realistic delivery arrangement. The IEA's Global Hydrogen Review 2025 identifies cost, infrastructure readiness and regulatory uncertainty as obstacles to deployment. IEA Global Hydrogen Review 2025. The business analysis here focuses on decisions a developer can control: buyer selection, project scale, contractual allocation and the…