China on Track to Reach 150 GW of Wind Capacity by 2015, According to GTM Research and Azure International
BOSTON, Nov. 29, 2012 (GLOBE NEWSWIRE) -- By 2015, China is forecasted to reach approximately 150 gigawatts of wind capacity, most of which is already in various stages of the development pipeline. In 2012, China surpassed 50 gigawatts of grid-connected wind capacity and is currently on track to add a record amount of new wind capacity, increasing the total installed capacity by roughly 18 gigawatts, representing a 40 percent growth rate. The country has become the world leader in wind power development, currently supplying an estimated one-fourth of all wind energy injected into the grid worldwide, according to the new China Wind Market Quarterly report by GTM Research and Azure International.
Furthermore, according to Azure forecasts, China's installed wind capacity will increase from a predicted 80 gigawatts by the end of 2012 to roughly 150 gigawatts by the end of 2015, significantly exceeding the wind target (100 gigawatts) set by China's 12th Five-Year Plan.
FIGURE: Wind Forecast by Province in 2015 (http://www.greentechmedia.com/img/china-wind-fig-2-5.png)
However, the sector faces some immense challenges, from ongoing problems with grid connection, ever-growing amounts of curtailed wind generation, new restrictions from State Grid on who can connect, and, perhaps most importantly, uncertainty about whether policymakers will do as they have done in the past to ensure the sector continues its rapid growth. Policy changes and sector reforms may accelerate after the changing of the guard at the 18th Party Congress this fall. Though no one can do more than speculate on the timing and effectiveness of such changes, they will certainly bear close scrutiny.
"China's wind industry retains its leadership position worldwide, whether looking at policy targets, overall installation numbers or innovation," said Anders Hove, one of the report's authors. "Fully understanding the world's largest wind energy market requires an in-depth understanding of complex issues, and that's why this report is timely. We need to understand the reasons for interconnection delays, develop an expectation for future curtailment, and look province by province at the cash flow issues created by slow disbursement of renewable energy surcharge funds."
Today, GTM Research and Azure International publish the first installment of their new China Wind Market Quarterly report. This 70-page report provides the latest information on developments in China's wind market as well as analysis of:
- Wind capacity by manufacturer
- Wind capacity by developer
- Wind capacity by geography
- Curtailed wind power in China by geography
- China's wind policies
- Major wind company financial trends
"China represents the world's largest and in many ways most important wind power market today," said Scott Clavenna, CEO of Greentech Media. "By launching a new quarterly report series with Azure International, GTM is aligning with a respected consultancy in the Chinese cleantech market, with a particular focus on wind power."
This report also contains comprehensive analyses of over 13 major wind developers currently operating in China, including: Longyuan, Huaneng, Datang, Huadian, Guodian United Power, GD Nuclear, Shenhua and State Grid, among others.
The China Wind Market Quarterly is the wind industry's most in-depth and frequently updated resource, providing energy professionals with tactical and useful data and analysis of China's wind market. To learn more about this new report or subscribing to this annual report series, please visit http://www.greentechmedia.com/research/china-wind-market-quarterly.
About GTM Research:
GTM Research, a division of Greentech Media, provides critical and timely market analysis in the form of research reports, data services, advisory services and strategic consulting. GTM Research's analysis also underpins Greentech Media's webinars and live events. Our coverage spans the green energy industry including solar power, smart grid, energy storage. energy efficiency and wind power sectors.
The GTM Research logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=12468
About Azure International:
Based in Beijing, China, Azure International is a leading investment and advisory company focused on China's cleantech energy sector. Founded in 2003, Azure has a team of 20+ local and international professionals based in China with backgrounds in engineering, marketing, manufacturing, consulting, policy, government relations and finance. In addition to deep advisory capabilities in renewable energy, energy efficiency, carbon management, and energy finance, Azure has proven capability to invest in and accelerate the development of clean energy companies. Azure provides the necessary expertise and execution capabilities in China to lead relationship development with government and strategic partners, project execution, sourcing, sales and technology development – all with deep understanding of Chinese and international requirements.
The Azure International logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=13792
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Source: Greentech Media