Chinese wind turbine manufacturer Goldwind Science & Technology Co Ltd has approved plans for a CNY-18.92-billion (USD 2.66bn/EUR 2.27bn) project integrating wind power, hydrogen, ammonia and methanol production.
To be located in Inner Mongolia, the project will include 3 GW of wind power, over 80% of which to be used for electrolysis to produce green hydrogen. Using green hydrogen and biomass gasification the project is set to produce 600,000 tonnes of green methanol and 400,000 tonnes of green ammonia per year.
The project, which still requires relevant approvals, is planned to be developed in phases. The funding will come from the company's own resources and bank loans.
According to the stock exchange filing on Wednesday, the investment will support China’s "dual carbon" goals and expand the company’s business opportunities. The project is expected to enhance its competitiveness and profitability.
