GOLDWIND(SZ:002202) 2 1 Shi Ji Jing Ji Bao Dao·2025-09-11 13:51Core Viewpoint - The article discusses the significant investment by Goldwind Technology in hydrogen and ammonia projects, highlighting the growing interest in renewable energy sources and the potential of green ammonia and methanol as alternative fuels, often referred to as "new oil" [1][2]. Investment Overview - Goldwind Technology plans to invest approximately 18.92 billion yuan in the Bayannur project, which will include the construction of 3 GW of wind power, with over 80% of the generated electricity used for electrolysis to produce green hydrogen [2][3]. - The Bayannur project aims to produce 600,000 tons of green methanol and 400,000 tons of green ammonia annually [2]. - This investment follows Goldwind's previous involvement in the Xingan League project, which is recognized as the world's largest wind-powered green methanol project [1][3]. Industry Trends - The number of signed and registered green hydrogen and ammonia projects in China has exceeded 800, with planned total production capacity nearing 60 million tons per year [1]. - The rapid rise of hydrogen and ammonia integration projects is driven by policy support, advancements in green hydrogen technology, and the market's demand for renewable energy [5][6]. Economic and Technical Aspects - The Xingan League project, with a total investment of 13.665 billion yuan, is set to produce 500,000 tons of green methanol annually and utilizes advanced biomass gasification technology [3][4]. - The integration of biomass gasification with green hydrogen production is expected to enhance methanol and ammonia yields while reducing carbon emissions [2][3]. Market Dynamics - Goldwind Technology's revenue structure shows that wind turbine manufacturing and sales account for over 76% of its income, indicating a strong focus on expanding into green methanol and ammonia as new growth areas [4]. - The company has secured a long-term supply agreement for green methanol with shipping giant A.P. Moller-Maersk, further solidifying its position in the green fuel market [4]. Future Outlook - The National Development and Reform Commission has encouraged the large-scale replacement of high-carbon hydrogen with low-carbon hydrogen in various sectors, including synthetic ammonia and methanol [5][6]. - The economic viability of hydrogen and ammonia projects is expected to improve significantly by 2030, with projections indicating that green hydrogen costs could drop below 10 yuan per kilogram [7].