Chile’s Ministry of Finance has submitted a $2.8bn green hydrogen tax credit bill to the country’s lower house.
The “Bill to Promote the Green Hydrogen Industry” proposes to allocate tax credits through six competitive auctions between 2025 and 2030 to domestic offtakers purchasing green hydrogen.
Separately, it offers special tax incentives to producers located in the Magallanes and Chilean Antarctica region.
“When there is a new industry, in order to materialise investments, a certain type of financing and security is required,” said Finance Minister Mario Marcel. “We want to consolidate Chile as a world leader in the production and use of this clean fuel.”
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