Chasing After The Chinese Wind Energy Market
- 05.05.2015 –
Asia: Greater China
Energy, Resources & Environment
Manufacturing & Industrial
April 23, 2009. What implications does China's development into one of the wind energy powerhouses have for the global market? Kim Khoo, co-author of the white paper "The Chinese Wind Energy Market" shares her thoughts.
Why is China the focus within the Wind Energy market at the moment?
“Wind energy is expected to account for 20% of global electricity consumption by 2010, according to the World Wind Energy Association. The Chinese government regards the development of wind energy as a key priority. As of end 2008, China overtook India to have the highest installed capacity of wind energy in Asia, with a total 12.2GW of total installed capacity versus India’s of 9.6GW.
In order to meet the demands of the growing market, domestic production of wind turbines and components also had to step up. With this accelerated development of manufacturing, China is gearing up to meet both the domestic demands as well as preparing to supply components to the international market.”
The Chinese wind power equipment manufacturing industry is also attracting the investments of many enterprises, why is this so?
“According to a senior Fortune 500 executive, in the US, NIMBY (not in my backyard) is the order of the day, whereas in China it’s more like IMBY. They build where they want, when they want. And they move fast.
With market capacity of wind power equipment forecast to reach USD32 billion by 2010, investing in China is important for many foreign enterprises wishing to take advantage of the substantial and rapid build up of wind energy in China. In addition, overseas turbine companies have made substantial investments in China, in order to comply with an earlier government stipulation requiring at least 70 percent of components to be sourced domestically for use in Chinese wind energy projects.
This is a key reason why the Chinese wind power equipment manufacturing industry is attracting the investments of many enterprises. The M-Brain (formerly GIA) white paper ‘The Chinese Wind Energy Market’ will discuss the relationships between major wind turbine and wind turbine components suppliers worldwide, with a focus on the key players in China.”
What insights can one gain from this white paper?
“A good overview of the Wind Energy market worldwide with an in-depth look at China, with forecasts up to 2012. But most importantly, the market drivers, restraints, regulations and future trends are detailed in our presentation, so participants are able to clearly see where the opportunities and pitfalls lie.”