Fortescue Energy’s CEO has said the Australian Government should think wisely about how it implements its hydrogen production tax credits, urging for relaxed additionality, geographical and temporal correlation rules.
Speaking to H2 View, Mark Hutchinson, praised the package of support unveiled by Australia in its federal budget on Tuesday (May 14), saying it would unlock the hydrogen industry for the nation.
The budget earmarked AUD $6.7bn ($4.4bn) for a production tax credit scheme, offering producers AUD $2 ($1.32) per kg, along with a further AUD $1.3bn ($859m) for the Hydrogen Headstart programme.
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