The company behind a major wind energy and hydrogen development project on the province’s southwest coast is applauding the federal government’s creation of an Investment Tax Credit for clean hydrogen production.
It’s a 30 per cent credit on clean energy projects including hydrogen, something which bodes well for Newfoundland and Labrador according to Deputy Prime Minister Chrystia Freeland.
She says productivity is a real shortcoming in the business community and making the most of the stuff we have in the ground.
John Risely of World Energy GH2 says the move is crucial to ensuring that Canada can compete with new incentives in the US.
Also in the fall economic statement was an item concerning student loans. Anyone who has a Canada Student Loan or Apprenticeship Loan will be breathing easier as that money will continue to be interest-free permanently.
