(Yicai Global) Jan. 14 -- State Power Investment Corp., the world’s largest renewable power producer, will invest CNY10 billion (USD1.57 billion) to construct a facility for the manufacturing and further research of hydrogen fuel cells and key components to help advance China’s green goals.

Located in Nanhai district in Foshan, southern Guangdong province, the plant will be built in three stages, the first stage of which will cost CNY2 billion (USD314.5 million), Yicai Global learned.

It will produce key hydrogen components and fuel cells, such as membrane materials, carbon paper and power systems. There will also be a research and development center for hydrogen power technologies.

Nanhai is already home to 90 hydrogen fuel-related businesses including key materials, components and vehicle applications. It also one of the most developed areas in China in terms of hydrogen production, storage, transportation, filling stations and other facilities.

Editor: Kim Taylor