China, Inner Mongolia, Bayannur: Chinese wind turbine manufacturer Goldwind Science and Technology has approved plans to build a large-scale green chemicals project in Inner Mongolia, China. The company will invest $2.7 B (CNY18.9 B) in the facility, which will use 3 GW of wind power and biomass resources to produce green hydrogen, methanol, and ammonia.
Goldwind said it has signed an agreement with Bayannur city authorities to host the project. More than 80 % of the electricity from the new wind farm will be used to generate green hydrogen, which will serve as a feedstock for methanol and ammonia production. The site is expected to produce 600,000 t of green methanol and over 400,000 t of synthetic ammonia each year.
Biomass syngas from local resources will also be used in the methanol production process. Goldwind said the project will integrate abundant regional wind, solar, and biomass capacity with its own technological expertise to create a sustainable chemicals hub.
The company’s board unanimously approved the investment, which is more than 12 times its net profit for the first half of 2025. Financing will come from Goldwind’s own funds and bank loans. As of June, the firm held $1.3 B (CNY9.6 B) in cash reserves.
Goldwind reported a 7.3 % rise in net profit to $210 M (CNY1.5 B) for the first half of 2025, with revenues up 41 % to $4 B (CNY28.5 B). Shares rose 3 % following the project announcement.
Source: Yicai Global
