Based on what i’ve heard from senior industry people, My understanding is that Businesses-Industries are for profit…their focus isnt/wont be environment or for that matter anything else than profit…hence ultimately it boils down to economics…they invest in alternative/environment friendly energy sources may be for immediate or longterm profits.
Lets look at why steel exporters might be first to use green H2.
EU has imposed carbon tax…called CBAM…
In short it requires carbon emission declaration for imports into EU destinations.
Initially it is applied For steel,fertilizer,cement anciliary etc starting January-2024.https://www.pwc.in/assets/pdfs/tax-knowledge-hub/carbon-border-mechanism-cbam-adjustment.pdf
Idea is the emissions will be compared with EU emissions and emissions which are higher than EU emission will be charged 30%.
CBAM=quantify emissions > compare with EU emission norms > pay 30% for emissions exceeding EU emissions.
D-invested in couple of H2 producing utilities & biased for H2 utilities & anciliaries, continue to look for H2 EPC, Utilities, anciliaries.
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