The President of the Chilean Republic led the tenth session of the inter-sectorial instance held at the Palacio de La Moneda in which, among others, a Green Hydrogen project was discussed, which seeks to close investment decisions.
This Thursday, July 17, a new meeting of the Pro-Growth and Employment Cabinet was held. Along with the Head of State, Gabriel Boric, participated the Ministers of Finance, Mario Marcel; of Labor and Social Security, Giorgio Boccardo; of Public Works, Jessica López; of Mining, Aurora Williams; of Energy, Diego Pardow; of Science, Knowledge, Technology and Innovation (s), Cristian Cuevas; the Undersecretary of Economy and Smaller Companies, Javiera Petersen, and the Undersecretary of Public Works, Danilo Núñez.
Following the meeting, it was announced that a pro-growth bill related to the promotion of the Green Hydrogen (H2V) industry will be submitted.
First of all, an incentive for the demand of H2V and its derivatives will be provided to companies domiciled in Chile through the allocation of a tax credit in the First Category Tax (IDPC). The total amount of credits to be allocated by a Committee composed of representatives of the Ministries of Finance, Energy and Economy will be US$2,800 million.
“In the cabinet we were discussing the main aspects of a new bill that is beginning its pre-legislative work and that we hope to present soon regarding a stimulus to the demand for Green Hydrogen. On the one hand, we seek to accelerate the use of H2V by the national industry. And, on the other hand, that this certainty regarding the demand allows to close investment decisions of Green Hydrogen producers. The idea is to present this project as soon as possible so that it is approved during this legislature,” said the Minister of Energy, Diego Pardow, who is also honorary president of Hyvolution Chile.
Additionally, a transitory fund will be created with resources provided by Corfo and/or the Treasury to finance measures, other than tax benefits, to promote the development of the H2V industry within the national territory.
Source: G5 Noticias.