Philippines Attracts International Interest for Hydrogen Development
Key Ideas
- Australia, Europe, and North America companies are interested in developing hydrogen sources in the Philippines for power generation.
- The Department of Energy (DoE) is pleasantly surprised by the high level of international interest in participating in future hydrogen contracts.
- The DoE has offered two areas in Zambales and the western portion of Central Luzon for hydrogen exploration, with evaluations set for August.
- The government issued a policy to incentivize investments in hydrogen energy, offering tax incentives and benefits to encourage development in the energy sector.
The Department of Energy in the Philippines has attracted interest from companies across Australia, Europe, and North America to develop hydrogen sources in the country for power generation. Undersecretary Alessandro Sales expressed surprise at the level of international interest. The DoE has announced two areas for hydrogen exploration, with evaluations scheduled for August. Energy Secretary Raphael Lotilla highlighted the significance of natural hydrogen deposits in Mali and Europe, drawing high interest from European entities. The DoE has issued a policy to incentivize investments in hydrogen energy, offering tax benefits and incentives to promote development in the energy sector. This move aims to increase the use of renewables in the country and reduce dependence on imported fossil fuels, enhancing energy security.