Market Chatter: China Signals Support to Green Hydrogen Sector

MT Newswires Live11-17

China signaled its support for the green hydrogen sector as some companies received approvals for green energy hubs, Bloomberg News reported Monday.

A regulator in Inner Mongolia approved China Coal Energy's (HKG:1898, SHA:601898) unit to construct a 5.2 billion yuan green hydrogen project that will produce about 90,000 tons annually, the report said, citing a local media.

A groundbreaking ceremony was held in Hebei last month for a 13.5 billion yuan 1,000-kilometer pipeline that will send more than 1.5 million tons of fuel every year from the clean energy hub of Zhangjiakou to Tangshan city, the report said.

Between January and October, 507 hydrogen energy projects were registered in the country, with an investment amounting to 221 billion yuan, according to a report from domestic industry publication Qingnenghui.

Beijing has shown support the technology of several green hydro pilot projects this year, even opening the sector to carbon credits to boost funding, despite it struggling to gain traction in other parts of the world due to high costs, Bloomberg said.

The government plans to support hydrogen energy in its next five-year plan between 2026 and 2030, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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