(Yicai) Oct. 9 -- Nyocor, a Chinese developer of new energy power stations, said it plans to put green power to high-value use by investing CNY452 million (USD64 million) in an artificial intelligence computing power center in western China.

Nyocor will spend CNY451 million to build a 5,000 PFLOPS computing power center in the city of Changji in Xinjiang Uygur Autonomous Region and CNY1.5 million (USD212,255) for a 15 percent stake in the AI center’s operator, it announced late yesterday. The project is part of the Xinjiang branch of the National Supercomputer Center in Guangzhou, it said.

The project's first phase aims to establish 1,000 PFLOPS of computing power and is scheduled to be completed this year, Beijing-based Nyocor noted. The mid-term goal is to expand capacity to 2,000 PFLOPS, with full capacity achieved by the end of next year, it said.

In addition to procuring high-performance intelligent computing servers, the project will also have storage and network facilities, according to Nyocor.  

The project's operational period after completion will be six years, bringing revenue of as much as CNY100 million a year, Nyocor pointed out. The local government will also support the company's investment in new energy power projects in resource-rich areas based on preferential policies. 

These policies allow for the construction of a 400-megawatt solar or wind power station, with the electricity generated going into the power grid at market-oriented‌ pricing, for every 500 PFLOPS of computing power built, Nyocor noted.

The project will fully leverage government policies encouraging the development of green computing power, Nyocor said. It will also help expand the firm's core business, explore new avenues for consuming new energy power, and create a replicable business model with broad market potential, it added.

Nyocor’s new energy power stations had a total installed capacity of 6,448 MW as of the end of last year, up 16 percent from 2022, with grid-connected capacity rising 19 percent to 4,480 MW and annual power generation jumping 13.9 percent to 7.15 billion kilowatt-hours, according to the company's annual financial report.  

Nyocor [SHA: 600821] ended flat at CNY6.04 (85 US cents) a share in Shanghai today, as China’s stock market retreated following recent big gains. Stocks have soared since Sept. 24, when the government set out measures to boost the economy. Nyocor has climbed around 15 percent since then.

Editor: Martin Kadiev