Basque companies purchasing green hydrogen technologies now receive a 30% deduction

Companies with tax residence in the Basque Country that purchase new technologies green hydrogen boost will be able to benefit from a deduction of 30% of the costs of investments in corporate tax. This measure will come into effect soon December 26when the new Basque List of Clean Technologies, which the Basque government has just updated, will come into effect.

The Minister of Industry, Energy Transition and Sustainability, Mikel Jauregi, appeared at the press conference after the Government Council to explain the update of this budgetary instrument, the aim of which is for the Basque industry to commit to integrating technologies with better environmental performance. Thus, the executive branch intends to contribute to “a “smart decarbonization”.

According to the advisor, “the new list of clean technologies will be a lever to create a new industry, make our companies more competitive and commit to decarbonization, towards the goal of climate neutrality by 2050.”

The update adds eight new technologiesfive for promoting green hydrogen and the rest for electrification. In addition, several outdated technologies have been removed from the list. In total the list contains 64 technologies. These include 11 renewable energy, 19 circular economy and 29 zero pollution. However, Jauregi has emphasized that it is a “flexible” document will be renewed annuallyand it has even been announced that the Basque government is already exploring new member states for their creation next year.