Published on May 19th, 2016 | by Joshua S Hill7
China Accounted For Half Of New Global Wind Installations In 2015
May 19th, 2016 by Joshua S Hill
China accounted for almost half of all new global wind installations in 2015, installing 30.5 GW, according to GlobalData.
According to a new report from GlobalData, a global research and consulting firm, China was responsible for nearly half of all new wind installations globally during 2015. This follows only a few weeks after GlobalData predicted China’s installed wind capacity is set to triple by 2030, and is expected to reach 495 GW, up from 149 GW in 2015.
GlobalData also predicted that China will maintain its position atop the pile, installing 23 GW worth of wind in 2016, thanks to a supportive regulatory scenario, low average turbine prices, and transmission infrastructure development.
“After focusing on increasing its installed capacity, China’s 13th Five Year Plan has raised the 2020 wind target to 250 GW, and aims to shift the focus from scale expansion towards quality and efficiency,” said Ankit Mathur, GlobalData’s Practice Head for Power. “Indeed, the Operations and Maintenance (O&M) market in China, and all over the world, is poised for a growth phase.”
Earlier this month, GlobalData highlighted China’s likely future wind installation pattern, which runs parallel to the country’s desire to minimize its reliance on fossil fuels and decrease its emissions. “China’s quick adoption of wind power can be attributed to a wider global trend driven by depleting fossil fuel reserves, the declining cost of wind power generation and a growing sensitivity towards environmental issues,” said Aswani Srivatsava.
Following behind China, according to GlobalData‘s latest report, was the United States with 8.6 GW, Germany with 6.1 GW, and Brazil and India, both with 2.6 GW.
Overall, the global wind sector is seeing continued growth, particularly as it pertains to the industry’s operation and maintenance sector. “Most original equipment manufacturers witnessed an increase in service revenue in 2015 over 2014, as turbine maintenance continued to provide steady revenue,” continued Mathur. “Companies such as Gamesa, Vestas and Nordex performed strongly in 2015 in terms of O&M revenues.”