A measure to encourage the production of hydrogen through 30-year stability guarantees for investments in that industry will be submitted to parliament by the Argentine government.
The Minister of Economy stated that “we are going to give entrance to the law that guarantees stability for the next 30 years to investments in hydrogen, realizing that this also helps us to produce added value around the energy system.” Sergio Massa, Argentina
During a speech in the southern province of Rio Negro, which was chosen by the Australian mining company Fortescue to develop an enormous green hydrogen project with an investment of 8.4 billion dollars until 2028, the minister revealed that the bill would soon be submitted to Parliament.
“The value of energy, the energy transition, and energy security are currently the topics of intense global debate. Everything we need to play the game is here. Our country has the potential to play a major role in the fight for global energy security “the minister remarked.
He stated that this potential needed to be “converted into a state policy,” ensuring “protection and stability” for investment projects for a period of 30 years.
Whoever is in charge should establish and uphold regulations to ensure the sustainability and long-term of these projects, he emphasized.
The H2 Argentina Platform, which supports the growth of low-emission hydrogen in Argentina, highlighted the necessity of creating a legislative framework at the end of September last year. This would put Argentina on the “global map” of hydrogen production and encourage long-term investments.
The platform also requested that the law distinguishes between hydrogen derived from renewable sources and hydrogen derived from other sources, which will also be included in the standard.