Sinopec to invest US $4.6bn in green hydrogen projects
China's Sinopec to invest US $4.6bn (CNY 30 billion) in green hydrogen projects to create green energy projects by 2025 in order to support its 2050 carbon-neutrality goals.
"Sinopec will expand forcefully into making hydrogen from renewable energy, and zero in on hydrogen for transportation fuel and using green hydrogen for refining," said acting Chairman Ma Yongsheng.
Sinopec wants to produce more than 1 million tonnes of hydrogen using renewable energy between 2021 and 2025. It also wants to add 400 megawatts of solar power generation capacity for supplying electricity to charge vehicles.
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