Chinese firm GD Power Development has registered its 49.5 MW Inner Mongolia wind farm as a Clean Development Mechanism project.

The application for the wind farm to come under the CDM took two years before it was officially approved on July 3rd 2010.

The CDM allows industrialized countries to invest in emission reductions wherever it is cheapest globally. The project, located in China's northern region, is expected to reduce about 134,000 tonnes of CO2 emissions a year.

Meanwhile, the Shanghai listed GD power plans to raise up to 9.7 billion yuan through selling no more than 3 billion shares in a placement. The proceeds will be used to acquire a few power plants from its parent company and to investment in a dam project in Sichuan.

The placement is still subject to approval from shareholders and China's securities regulator.