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%."
This market research report on Global Wind Energy market will help clients analyze the following:
- 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.
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