Goldwind Unveils $2.7 Billion Wind-Powered Green Chemicals Mega-Project in Mongolia

Goldwind Science & Technology, one of the world’s largest wind turbine manufacturer, has unveiled plans to invest approximately 18.9 billion yuan (around USD 2.7 billion) in an ambitious wind power and green chemical production project. 

Located in Bayannur city, western Inner Mongolia, the project integrates a 3 gigawatt (GW) wind farm with facilities to produce green hydrogen, methanol, and synthetic ammonia. 

Project Overview

The centerpiece of this integrated development is a 3 GW wind power plant designed to power an onsite green chemical manufacturing facility. More than 80 percent of the electricity generated from the wind farm will be directly utilised within the production units. The planned chemical complex will produce about 600,000 tons of green methanol and over 400,000 tons of green synthetic ammonia annually.

Green hydrogen, a key input for these chemicals, will be produced using wind-generated electricity. Biomass-derived syngas sourced from local resources will also contribute to methanol production. 

By leveraging the abundant wind, solar, and biomass resources of Bayannur, Goldwind is pioneering an integrated solution that converges renewable power generation and clean chemical synthesis.

Economic and Financial Details

Goldwind will finance the project using its internal funds combined with bank loans. The scale of investment represents more than twelve times the company’s net profit in the first half of 2025. Nevertheless, the company reported cash reserves of 9.6 billion yuan (USD 1.3 billion) as of June 30, 2025, and continues robust earnings growth.

In the first half of 2025 alone, Goldwind recorded a 7.3 percent rise in net profit to 1.5 billion yuan and a 41 percent increase in operating revenue to 28.5 billion yuan. 

Strategic and Industry Significance

The project aligns firmly with China’s national ambitions to decarbonise energy and advance hydrogen-based fuels as key components of the energy transition. Several large-scale green ammonia and methanol facilities are beginning operation in China, placing the country at the forefront of clean chemical production globally.

Goldwind’s integration of wind power with chemical manufacturing sets a template for circular, low-carbon industrial ecosystems. The initiative builds upon Inner Mongolia’s reputation as a renewable energy hub, capitalising on the region’s natural wind and biomass potential.