Robert Tuttle, Bloomberg News
(Bloomberg) Enbridge Inc.âs push into new frontiers of the energy transition such as carbon capture and clean hydrogen production could use Canadian tax credits similar to those in the U.S., the companyâs CEO said.
North Americaâs biggest oil pipeline company, which for years has invested in wind and solar power projects, is also looking at gaining scale and becoming competitive in technologies such as hydrogen production using renewable electricity. To get there, itâs seeking incentives in Canada like the $35 to $50 per metric ton of credits for CO2 sequestration and storage that exist in the U.S. under Section 45Q of the Internal Revenue Code, Chief Executive Officer Al Monaco said in an interview.
Enbridge seeks Canadian tax credits to fund hydrogen and CO2 capture push By Robert Tuttle on 4/6/2021
Carbon capture and underground storage is a key part of many legacy energy companies green transition plans.
CALGARY (Bloomberg) Enbridge Inc.âs push into new frontiers of the energy transition such as carbon capture and clean hydrogen production could use Canadian tax credits similar to those in the U.S., the companyâs CEO said.
North Americaâs biggest oil pipeline company, which for years has invested in wind and solar power projects, is also looking at gaining scale and becoming competitive in technologies such as hydrogen production using renewable electricity. To get there, itâs seeking incentives in Canada like the $35 to $50 per metric ton of credits for CO2 sequestration and storage that exist in the U.S. under Section 45Q of the Internal Revenue Code, Chief Executive Officer Al Monaco said in an interview.
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Enbridge Inc.’s push into new frontiers of the energy transition such as carbon capture and clean hydrogen production could use Canadian tax credits similar to those in the U.S., the company’s CEO said.
North America’s biggest oil pipeline company, which for years has invested in wind and solar power projects, is also looking at gaining scale and becoming competitive in technologies such as hydrogen production using renewable electricity. To get there, it’s seeking incentives in Canada like the US$35 to US$50 per metric ton of credits for CO2 sequestration and storage that exist in the U.S. under Section 45Q of the Internal Revenue Code, Chief Executive Officer Al Monaco said in an interview.