(Yicai Global) Dec. 27 -- Huolinhe Opencut Coal Industry of Inner Mongolia has gotten the green light to invest CNY6.4 billion (USD917.2 million) in a wind park in northeastern China to provide eastern Shandong province with renewable energy. 

Authorities accepted Huolinhe's project, which will be located between Jarud Banner and Horqin Left Middle Banner, with an expected annual output of 1 gigawatt, the Tongliao-based coal firm said in a statement yesterday. 

Huolinhe has been shifting toward wind power in the breezy region in recent years after China started restricting the polluting coal industry. 

The company will distribute the energy via State Grid's Jarud-Qingzhou route, an over 1,200-kilometer power line that covered about 10 percent of Shandong province's total energy demand in 2016.  

Huolinhe has registered a project company on Dec. 25 and will not need government subsidies for the undertaking, it said. The eventual electricity pricing will be based on market demand and fees, it added. 

Huolinhe's shares [SHE: 002128] rose 1 percent to CNY8.41 (USD1.20) this afternoon.

Editor: Emmi Laine