INQUIRER FILE PHOTO
“Quite a few” firms from Australia, Europe and North America have expressed curiosity to develop hydrogen sources within the nation for energy technology, in keeping with the Division of Vitality (DOE).
Vitality Undersecretary Alessandro Gross sales mentioned 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 at this time’s world as a result of apparently, it’s solely the Philippines that has bid an space purposely for hydrogen exploration,” Gross sales mentioned.
The DOE has supplied two areas for hydrogen exploration —one is in Zambales and the opposite is on the western portion of Central Luzon.
It’ll consider all proposals in August.
Vitality Secretary Raphael Lotilla had mentioned that the invention of pure hydrogen deposits in Mali and Europe was one of many causes behind the “excessive curiosity” of European entities to contemplate venturing into hydrogen.
“I’m positive that even our East Asian neighbors can even be trying on the alternatives on this space,” Lotilla mentioned.
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 vitality for energy technology.
The mentioned DOE coverage governs the nationwide coverage and common framework, roadmap and pointers for hydrogen within the vitality sector.
It additionally consolidates and harmonizes all current issuances to make sure and speed up investments in protected, efficient and environment friendly hydrogen improvement, manufacturing and utilization.
Beneath the coverage, hydrogen vitality tasks with the first objective 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 embrace earnings tax vacation, particular tax charges, internet working loss carry-over, tax exemption of carbon credit, zero % worth added tax fee and exemption from duties on renewable vitality (RE) equipment, gear and supplies.
The DOE issued the coverage because it considers hydrogen as one other viable different and cleaner vitality supply and goals to extend the usage of renewables nationwide to satisfy its future necessities.
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“The potential for using hydrogen assets, if optimally developed, will play a serious position in bettering the nation’s vitality safety by decreasing dependence on imported fossil fuels and in reaching the nation’s objective for a low-carbon future,” the round mentioned.
