Two agreements signed to build a total of 2 million ton green methanol capacity in China
On May 28, Windey New Energy and Zhaoyun (Liaoning) New Energy signed an agreement with Daan, Jilin government to build 1 million ton green methanol production plant. Construction would begin from 2nd half 2024 and first production is expected by the end of 2026, which would become world first million ton scale and largest green methanol plant should the schedule is fulfilled.
Photo: the signing ceremony
The total investment would amount to Rmb 23.5 billion, including Rmb 11.5 billion for 0.8 million ton biomass gasification to green methanol and 0.2 million ton green hydrogen to methanol plants, and Rmb 12 billion for 2GW renewable energy (wind & solar) and associated energy storage facilities. Upon fully operational, the project is expected to have an economic impact of Rmb 6.5 billion and a budget impact of Rmb 45.5 million, according to the news release.
The two developers, Windey New Energy is world 4th largest wind turbine manufacturer in 2023, according to BNEF. Zhaoyun (Liaoning) New Energy is a joint venture formed by a subsidiary of China Merchants Group and Windey New Energy.
There are two million-ton scale green methanol projects announced in May.
On May 8,