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China on Track to Exceed Targets, Install 140 GW of Wind Capacity by 2015

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BOSTON, Feb. 15, 2013 (GLOBE NEWSWIRE) -- The news cycle for China's wind sector may finally have turned, according to the new China Wind Market Quarterly report by GTM Research and Azure International. The final month of 2012 and first weeks of 2013 brought a flurry of government announcements with major near-term implications. In December, the government took steps to resolve financing issues in the sector by redistributing surcharge revenues and pre-appropriating funds for 2013. And, in January two separate announcements raised targets for wind and solar installations in 2013, setting an overall target of 49 GW of renewable capacity additions in 2013, of which 18 GW will be wind.

The government appears to be back in the game of promoting the domestic renewable energy market, with policy in China beginning to act as a counterweight to foreign forces that have hurt the wind and solar sectors. According to the new report, this implies that more announcements may be on the way for wind. One near-term possibility is improved financing. How will all the new solar be financed, given the problems distributing renewable surcharges? Most likely, the state banking sector will play a major role, and this could bring new cash to the balance sheets of Chinese wind firms—which would in turn filter down to OEMs and component suppliers.

FIGURE: China Wind Installed Capacity, 2004-2012, Forecast to 2020 (http://www.greentechmedia.com//content/images/articles/Wind_Quarterly_Q4_-_Fig_6-7.png)

"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 second installment of their China Wind Market Quarterly report. This 90-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






The report also contains comprehensive analysis of over 10 major wind developers currently operating in China, including: Longyuan, Huaneng, Datang, Guodian, Shenhua and Huadian, 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 to subscribe 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

CONTACT: Charlene Fowler Research Marketing Coordinator 415.777.9921 fowler@gtmresearch.com

Source: Greentech Media