(Yicai Global) Dec. 28 -- Shouhang IHW Resources Saving Technology, a leader in China's solar tower-type power generation technology, started operations at a new solar farm in western Gansu province today, predicting it will bring in annual revenue of more than CNY400 million (USD58.4 million).

The Dunhuang project consists of more than 12,000 mirrors surrounding a 260-meter-high heat-absorbing tower and will generate 390-million-kilowatt hours of power a year, the Beijing-based firm said in a statement.

This new type of solar power plant is equipped with many large on-site mirrors that concentrate sunlight on a receiver at the top of a high tower, where solar energy is converted into heat that drives a generator to produce electricity.

Shouhang IHW has a small solar power station in Dunhuang and invested in another unit, also in Gansu, in September. That is expected to complete in October 2020.