China to reach 100 GW of wind by 2020, report

19 November 2008

China’s plans to reach 100 GW of installed wind power generation capacity by 2020 are unlikely to be derailed by the current global financial crisis, according to a recent study of China’s wind power market, according to a report from Emerging Energy Research (EER).

The report states that despite inevitable slowdowns in markets elsewhere, China’s wind initiatives are so large in scale and so well supported by the government, that the country’s new renewable energy goals are likely be met well before the 2020 target.

EER wind research director Keith Hays said, ‘From planned projects to operational capacity, China is on track to become the single largest market for wind power by 2011. In just two years, China will account for more than 17 per cent of the world’s installed wind generation capacity, financed by an investment of more than $20bn.’

EER analyst Caitlin Pollock, added, ‘China will lead the global wind market in annual installations by 2011 with an estimated 10 GW/year. This is an initiative supported by strong political will, improving incentives, and vast natural and industrial resources. Chinese utilities, such as Longyuan and Datang, are now among the world’s largest wind asset owners. And, while most of the newly emerged suppliers will fall victim to industry consolidation, China’s wind technology incentives are focused on building an industry that can compete on a global scale…it is not just the domestic market that is driving China’s investment strategies.’

Source: China Wind Power Markets and Strategies 2008-2020, Emerging Energy Research LLC

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Tags: wind

This story was published on Wednesday, November 19th, 2008 at 4:11 pm and is filed under Asia, wind. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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