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British Columbia Set to Unlock the Power of Hydrogen Economy
British Columbia Set to Unlock the Power of Hydrogen Economy

British Columbia Set to Unlock the Power of Hydrogen Economy

  • 27-Apr-2023 12:42 PM
  • Journalist: Harold Finch

Canada: BC Hydro, the British Columbia-owned Crown corporation, has highlighted the promising potential for companies interested in investing in Hydrogen production to leverage clean-industry tariffs and tap into existing infrastructure and incentives in three hubs situated in the Canadian province.

This opportunity is ready to be unlocked and BC Hydro has progressed significantly in its proposition in relation to the burgeoning Hydrogen economy. Prince George and Northeastern BC are among the three ripe locations for investment and infrastructure opportunities that are expected to surge. The prospect of accessing the Hydrogen economy has always been a key proposition for industrial companies based in British Columbia.

BC, with its reliable and renewable hydroelectric production, has always been an attractive location for large industrial clients seeking to decrease their Carbon footprint. Now, with the implementation of Hydrogen offers and incentivized infrastructure, the potential for a world-class Hydrogen industry supported by private investment and government backing is rapidly approaching. The BC Hydrogen Strategy, released in 2021, has created a favourable environment for advancing the Hydrogen industry in BC.

In recent years, the province has built a robust Hydrogen sector, led by major players such as Ballard, HTEC, and Powertech. As a result of these advancements, there is now an exciting business story emerging around Hydrogen production, transportation, and distribution along vital routes connecting Greater Vancouver, Prince George, and the port at Prince Rupert.

Multiple funding levels, incentives, and credit programs have been outlined by the province to support the development of low-Carbon Hydrogen projects. The plan has progressed from the planning stage, and suitable brownfield sites have been identified for Hydrogen production, with pre-approved discount rates applying for such projects. Economic development experts are offering project design support and other incentives to get things moving. These initiatives are further supported by wider incentives.

Funding opportunities are now accessible at the crown, provincial, and federal levels, which is a breakthrough. Prince George is already a hub of Hydrogen-related activity, with increasing demand in Greater Vancouver for transportation and industrial purposes. With ample support available, the goal is to expand production and seamlessly connect everything in the coming months and years.

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