Press Release Summary = Accelerating the development of wind energy, China is
attracting major players in this sector like Vestas Wind Systems. Market in China
appears to be highly lucrative for players.
Press Release Body = China contributed around 500 MWs of wind power capacity in the
year 2005, 66% jump to 1,266 MW, as per GWEC- Brussels based council for global wind
energy. This compares with 11% growth in Germany, which is the largest wind market
in world, where the capacity neared 18,428 MWs. However, China might add around
2,000 MWs of capacity in 2006. Thus, market in China appears to be highly lucrative
compared to countries such as Australia, where construction of wind farms is
hampered due to several restrictions imposed by the government. Also, oil prices
haven't settled below US$ 50 for the past twelve months, and are touching around US$
60 currently.
China plans to produce 5,000 MWs of wind power capacity by the year 2010, while the
country has a goal to achieve 30,000 MWs over the next 14 years (by 2020), said
Andrew Richards, Australian Wind Energy Association’s president.
RNCOS has recently published a report “Global Wind Energy Market (2006)”
that provides extensive research and objective analysis on Global wind energy
Industry. According to this report, “With 20% of world population, China
consumes around 10% of global energy. The 1st Chinese wind farm was installed in the
year 1986 as a demo project. In 1994, the Electric Power Ministry decided that it
would develop wind farms so that clean power can be generated in the country. Total
installed capacity was 1266 MW, compared to 770 MW in the year 2004 with a growth
rate of around 60%.”
- The issues that lead to the success of wind energy.
- Opportunity areas for the players in this sector and challenges in the global wind
energy industry.
- Future outlook in global wind energy.
- Current trends in potential wind energy markets worldwide.
About RNCOS:
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For more information visit: http://www.rncos.com/Report/IM077.htm
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