The global offshore wind industry is expected to grow by as much as 15-fold and attract a cumulative investment of $1 trillion by 2040 according to a new report published by the International Energy Agency (IEA) which has famously undervalued the increasing role of renewable energy in the global energy mix.
Danish wind energy giant Vestas Wind Systems A/S finished off the second quarter of 2019 with its trademark flurry of activity, announcing 1,775 megawatts (MW) of new wind turbine orders over the last four days of the quarter, pushing its total orders for the first half of the year to 7,605 MW, a 40% increase over the same period in 2018.
The Global Wind Energy Council published its inaugural Global Offshore Wind Report this week, which shows that not only has offshore wind grown at an average of 21% each year since 2013, but that the sector could install an additional 200 gigawatts (GW) of capacity by 2030.
China’s offshore wind turbine manufacturers could become some of the most dominant in the industry without ever having to succeed overseas, according to Wood Mackenzie Power & Renewables, with the country’s offshore wind market set to add 40 gigawatts (GW) of capacity over the next decade.
Global wind turbine order intake increased by 7% in the first quarter of 2019, eclipsing the previous record set a year earlier by 875 megawatts (MW), according to Wood Mackenzie Power & Renewables.
China’s Government approved the first of its long-awaited grid-parity renewable energy projects for 2019 this week, which include 4.5 gigawatts (GW) of wind and nearly 15 GW of solar PV.
A new $2.63 million joint UK-Chinese offshore wind research center was opened on Thursday in Yantai City, with its purpose to act as a leading renewable energy research and development center situated to support the growth of its two respective offshore wind industries.
China’s National Energy Administration announced over the weekend that the country installed a total of 44.1 gigawatts (GW) of solar in 2018, down 16% on 2017 but still up on mid-year expectations, bringing the country’s cumulative total to 174.63 GW.
China’s National Development and Reform Commission and National Energy Agency announced big plans last week intended to drive the development of new subsidy-free wind and solar projects, providing the necessary political certainty that has been somewhat lacking since the Administration’s decision to undercut the solar industry in May of 2018.
The global wind turbine market is expected to continue to grow over the next few years, according to new figures published by analysts GlobalData, with market value estimated to be $47.83 billion in 2022, up from $44.75 billion in 2017, driven primarily by onshore development.
