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, based on the Division of Vitality (DOE).
Vitality Undersecretary Alessandro Gross sales mentioned the DOE was “pleasantly shocked 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 mentioned.
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 should 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 think about venturing into hydrogen.
“I’m certain that even our East Asian neighbors may also be trying on the alternatives on this space,” Lotilla mentioned.
Signed in January this 12 months, 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 basic framework, roadmap and pointers for hydrogen within the vitality sector.
It additionally consolidates and harmonizes all present issuances to make sure and speed up investments in secure, efficient and environment friendly hydrogen improvement, manufacturing and utilization.
Underneath the coverage, hydrogen vitality tasks with the first goal 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 revenue tax vacation, particular tax charges, web working loss carry-over, tax exemption of carbon credit, zero % worth added tax fee and exemption from duties on renewable vitality (RE) equipment, tools and supplies.
The DOE issued the coverage because it considers hydrogen as one other viable different and cleaner vitality supply and goals to extend using renewables nationwide to satisfy its future necessities.
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“The potential for using hydrogen assets, if optimally developed, will play a significant position in enhancing the nation’s vitality safety by lowering dependence on imported fossil fuels and in reaching the nation’s aim for a low-carbon future,” the round mentioned.
