Bola Tinubu has approved the establishment of the Presidential Compressed Natural Gas Initiative (PCNGI). This project is poised to revolutionize the transportation landscape in the country, targeting over 11,500 new naural gas vehicles and 55,000 CNG conversion kits for existing Premium Motor Spirit (PMS)-dependent vehicles.
The Council of Ministers, at the proposal of the Ministry for the Energy Transition and the Demographic Challenge (MITECO), approved a Royal Decree for the concession of 74 million euros for the start-up of four renewable hydrogen projects in Spain, from companies IVECO, H2B2, SENER and Nordex.
Province of Misiones’ Ahora Taxi program will subsidize up to 50% of the value of a new vehicle (including the installed CNG equipment and the corresponding identifying paint) with the car manufacturer’s commitment to take the used car as part of payment. The taxi owner has the option of paying the amount owed through a loan from Banco Macro.
Promoting the use of natural gas for vehicles, in addition to contributing to the improvement of air quality, will allow significant economic savings for users, such as private vehicles, interprovincial transport companies and public buses, among other productive sectors; thus impacting the economic reactivation of the Peruvian population.
The time for subsidies was set to expire at the end of 2023, but increased renewable energy targets and subsidy budgets have made it possible to prolong the period until June 30, 2024, according to the Ministry of Economic Affairs. Renewable energy used in road and rail transport must account for at least 14% of all energy consumed in the transport sector by 2030
The MINEM will allocate more than 800 million soles from the FISE to promote the development of infrastructure and growth of the users of this energy. Regarding the vehicle sector, which had significant growth in 2022, it is planned to allocate more than 125 million soles to the NGV Saving Program for the CNG conversion of private vehicles and public transport.
Customers of Trillium Energy Solutions can now earn My Love Rewards (MLR) points when they refuel CNG and bio-CNG at over 60 public Trillium stations or Love’s Travel Stops across the U.S. The MLR loyalty program is the best rewards program on the highway and gives drivers points and credits for free items.
The program will encourage the use of natural gas in taxis, transport applications and companies that want to convert their vehicles. The financing amount will be up to R$ 6,000 (about USD1,200), with an interest rate of 1.40% per month for companies and 2.45% for individuals, with a financing term of up to 18 months.
The Minister of Natural Resources announced a combined investment of more than $8.8 million to six organizations for 10 hydrogen and natural gas refueling stations to help accelerate the decarbonization of road transportation. Federal funding for these projects was provided through Natural Resources Canada’s ZEVIP and EVAFIDI programs.
Five new governorates -Ismailia, Sharqeya, Beheira, Beni Suef and Sohag- have been included in the presidential initiative, allowing them to receive financing to own new economically and environmentally friendly cars through large credit facilities in line with the UN’s sustainable development goals (SDGs) and Egypt’s 2030 Vision.
