State Energy Giants Lead New Green Hydrogen Consortium

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Sinopec’s green hydrogen project in the Xinjiang Uyghur autonomous region. Photo: VCG

A consortium led by state-owned energy giants China Petrochemical Corp. (Sinopec) and CHN Energy Investment Group Co. Ltd. has been formed to further grow the country’s green hydrogen industry.

The consortium aims to “realize full-chain innovation from basic research to industrialization” and “promote the vigorous development of China’s green hydrogen industry,” a Wednesday statement from Sinopec said.

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A consortium led by Sinopec and CHN Energy aims to advance China's green hydrogen industry with full-chain innovation from research to industrialization.
The consortium, supported by the State-owned Assets Supervision and Administration Commission, includes 76 entities.
China’s green hydrogen production costs remain high, estimated between 33.9 and 42.9 yuan per kg, compared to cheaper coal-produced hydrogen, complicating profitability despite growing industry efforts and increasing hydrogen fuel cell vehicle sales.

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Who’s Who

China Petrochemical Corp. (Sinopec): China Petrochemical Corp. (Sinopec) is a state-owned energy giant in China, leading a consortium to advance the country's green hydrogen industry. The consortium includes 76 companies, research institutions, and universities. Sinopec's Xinjiang Kuqa Green Hydrogen Pilot Project began full operation in August, marking significant progress in the industrial-scale implementation of green hydrogen in China.

CHN Energy Investment Group Co. Ltd.: CHN Energy Investment Group Co. Ltd. is one of the state-owned energy giants in China. It is part of a consortium, alongside Sinopec, aiming to advance the country's green hydrogen industry. This consortium seeks to innovate across the full chain from basic research to industrialization, promoting the development of green hydrogen.

Sungrow Power Supply Co. Ltd.: Sungrow Power Supply Co. Ltd. (300274.SZ) is involved in China's hydrogen energy industry. Fang Wei, a vice president at its hydrogen department, stated that the industry is still in its early stages and emphasizes the need for further technological research and innovation.

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What Happened When

2023：: China launched its first long-term plan for the hydrogen industry.

2023：: Sales of hydrogen fuel cell vehicles in China reached 7,979 units, up 45% year-on-year.

August, Last Year (2023)：: The Sinopec Xinjiang Kuqa Green Hydrogen Pilot Project entered full operation.

June 2024：: The World Economic Forum released a report providing cost estimates for green hydrogen production in China.

August 21, 2024：: Sinopec and CHN Energy Investment Group Co. Ltd. announced the formation of a consortium aimed at growing China’s green hydrogen industry in 2024.

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