China Petroleum & Chemical Corporation (Sinopec) said that it has launched its first hydrogen demonstration project in the Inner Mongolia.

The company has invested US$ 828.04 million in the project that is estimated to produce 30,000 tons of green hydrogen and 240,000 tons of green oxygen. This will result into reduction of carbon emission by 1.43 million tons annually.

The Project's scope covers wind and photovoltaic power generation, power transmission and transformation, hydrogen production by water electrolysis, hydrogen storage and transport. The installed power-generating capacity of wind and PV power will reach 450 megawatts and 270 megawatts respectively; the hydrogen production by water electrolysis will achieve a capacity of 30,000 tons annually, and the hydrogen storage capacity will reach 288,000 standard cubic meters.

"The Project is of great significance to guaranteeing China's energy security, building new energy systems and advancing green energy and low-carbon development in Inner Mongolia, leading towards a new, high-quality development roadmap that prioritizes ecological conservation and green development," said Ma Yongsheng, Chairman of Sinopec.