:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/HEBDHZDGMJF3OOALYDNHF2WDJQ.jpg "The 8 keys to the Hydrogen promotion project that Economy will send to Congress 1")
The government will send the Hydrogen Promotion Bill to Congress, one of the energy alternatives that has gained space in recent years due to concerns about climate change derived from carbon emissions from hydrogen. energy generated from fossil fuels.
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In 50 articles, the outline of the project, to which he had exclusive access GlobeLiveMediaaims to boost the use of “low-emission hydrogen” in “viable and safe” applications that help the country meet the Paris climate change targets.
To this end, it aims to promote “the entire low-emission hydrogen value chain, in its production, transformation, logistics and transport stages, as well as the capital goods industry”. and the promotion of scientific development associated with it..
The authority of application will be the Ministry of Energy and a “National Hydrogen Agency” (Anhydrous) is created, which will depend on the Ministry of Industrial Development, currently headed by Jose Ignacio de Mendiguren.
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The project aims to promote the production and use of green hydrogen (obtained totally and exclusively from renewable energy sources), blue (obtained from processes that transform fossil fuels but including stages of capture and storage of greenhouse gas emissions) and pink (obtained from nuclear sources).
In its article 5, the text creates a “Hydrogen Promotion Regime” which will be valid, as well as the fiscal stability offered to the projects, for 30 years. Potential beneficiaries must be Argentine companies or individuals approved or holders of new investment projects and local suppliers of goods and services to the sector. In addition to the usual exclusions (per case, persons or companies in bankruptcy) the promotional scheme will be incompatible with other tax and tax exemptions or other promotional schemes in force.
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The project aims to promote new investment in capital equipment and infrastructure for low-carbon hydrogen production, including renewable energy production parks, natural gas plants converted for hydrogen production blue, nuclear power plants for the production of pink hydrogen and water electrolysis plants (hydrogen produced by evaporation), including infrastructure for the capture and storage of greenhouse gases and the desalination of water, liquefaction, gasification and port terminals.
National content integration requirements will be 35% until the fifth year of enactment of the law, 45% from the sixth and 50% from the eleventh, with variations depending on the type of hydrogen at produce.
To be eligible for the promotion, a project must obtain a “Certificate of Inclusion in the Hydrogen Regime”, subject to guidelines on production conditions, work progress, energy sources, raw materials used and/or or the carbon emission level, subject to review.
The project also creates a Register of Low-Carbon Hydrogen Production Projects” and another of “Low-Carbon Hydrogen Value Chain Suppliers” under the orbit of the Register of Manufacturers and Suppliers of Components for Hydrogen Production. Electric Energy from Renewable Sources of the Ministry of Industry, coordinated with the “Register of Renewable Energy Suppliers” under the orbit of the National Institute of Industrial Technology.
The financing of the promotion will be the responsibility of the National Productive Development Fund (Fondep), created in 2014, which will constitute a Specific Allocation Fund, made up of assets contributed to a trust up to 0.5% of the amount of the investment declared in the “Certificate of Inclusion”, the recovery of capital and interest from the financing granted and dividends and profits from the ownership of shares or participations in the projects, and the income from their sale, plus contributions national and international credit organizations and other contributions. This Fund will be exempt “from all existing and future national taxes, duties and contributions, including Value Added Tax and Tax on Credits and Debits on Bank Accounts and Other Transactions” . The “Hydrogen Executive Committee” of Fondep can provide funds and facilities through loans, acquisition of public or private fiduciary securities issued “for the exclusive purpose of obtaining financing for projects carried out by law in any phase of the hydrogen value chain, make capital contributions in the companies in charge of the projects, subsidize the interest rate of credits and securities and have a mandatory minimum contribution of its total resources for investments in the science and technology, innovation and development, in public and private entities accredited to the “National Innovation System for the promotion of the development of the hydrogen sector”.
The National Hydrogen Agency to be created under the supervision of the Ministry of Industry will have the “primary responsibility” of advising the Application Authority on technical and regulatory issues, including auditing and certification of projects, the definition of maximum allowable carbon standards carbon dioxide emissions, development of a “Hydrogen Value Chain Development Plan” and verification of compliance with national content. It will have a president and 6 “ad-honorem” vocal directors who will represent the Ministries of Economy, Science and Technology, Transport, Environment, Secretariat for Industry and INTI.
The advantages to be granted to the projects chosen by Anhydre include accelerated amortization of profits, accreditation and/or advance reimbursement of VAT, they can extend the periods for compensation of losses up to 10 years and they can deduct interests of the company’s capital losses and exchange differences from the financing of the approved project, in addition to being exempt from import duties, port and airport service charges, statistics for spare parts, parts, components and supplies for the different stages of the green hydrogen production processes. , pink or blue.
Suppliers of the “hydrogen value chain” will also benefit from advantages “in the forms and conditions established by the Ministry of Industry and Productive Development”
Successful projects will benefit from tax stability for up to 30 years (depending on when they join) and “they may not see an increase in the total tax burden determined at the time of the presentation of the investment project , due to increases in taxes and fees, however denominated at the national level and at the provincial and municipal levels, or the creation of new ones”
In addition, they will have access to the free exchange market for up to 50% of the foreign currencies obtained in exports related to the project, to be allocated to the payment of capital and interest on commercial and/or financial debts abroad.
In addition, the applicable export duties (or withholdings) will be 0% in the case of green or pink hydrogen and/or its associated vectors and will be capped between 1.5% and 4.5% depending on the years, from the beginning of the law year, in which they carry out their exports
In addition, they will have the right to calculate up to 10% of the amount of the national component that exceeds the established minimums, as payment as remuneration:
Finally, the bill also provides for the creation of the Federal Hydrogen Council which will be made up of representatives from Anhydrous, the provinces and CABA, provided that the respective districts have approved low-emission hydrogen production projects. .
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