INQUIRER FILE PHOTO
“Quite a few” corporations from Australia, Europe and North America have expressed curiosity to develop hydrogen sources within the nation for energy technology, in response to the Division of Power (DOE).
Power Undersecretary Alessandro Gross sales stated the DOE was “pleasantly stunned on the degree of curiosity” amongst worldwide gamers to take part in future biddings for hydrogen contracts. “These hydrogen contracts are in reality novel in as we speak’s world as a result of apparently, it’s solely the Philippines that has bid an space purposely for hydrogen exploration,” Gross sales stated.
The DOE has provided two areas for hydrogen exploration —one is in Zambales and the opposite is on the western portion of Central Luzon.
It can consider all proposals in August.
Power Secretary Raphael Lotilla had stated that the invention of pure hydrogen deposits in Mali and Europe was one of many causes behind the “excessive curiosity” of European entities to think about venturing into hydrogen.
“I’m positive that even our East Asian neighbors may also be trying on the alternatives on this space,” Lotilla stated.
Signed in January this yr, the DOE issued Division Round No. 2024-01-0001 to incentivize entities that can assist the federal government safe its energy provide by investing in hydrogen power for energy technology.
The stated DOE coverage governs the nationwide coverage and normal framework, roadmap and tips for hydrogen within the power sector.
It additionally consolidates and harmonizes all present issuances to make sure and speed up investments in secure, efficient and environment friendly hydrogen growth, manufacturing and utilization.
Beneath the coverage, hydrogen power tasks with the first function of manufacturing, importing and exporting inexperienced hydrogen and inexperienced hydrogen derivatives for energy technology and different purposes might avail sure incentives from the federal government.
These embody earnings tax vacation, particular tax charges, web working loss carry-over, tax exemption of carbon credit, zero % worth added tax charge and exemption from duties on renewable power (RE) equipment, tools and supplies.
The DOE issued the coverage because it considers hydrogen as one other viable various and cleaner power supply and goals to extend the usage of renewables nationwide to fulfill its future necessities.
Your subscription couldn’t be saved. Please strive once more.
Your subscription has been profitable.
“The potential for using hydrogen assets, if optimally developed, will play a serious position in enhancing the nation’s power safety by lowering dependence on imported fossil fuels and in reaching the nation’s aim for a low-carbon future,” the round stated.
