Developing world ripe for wind energy

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New markets need to be opened worldwide for wind power to regain its stellar pre-2009 growth rates, which helped to make it a mainstream energy source in many markets, said the head of the International Renewable Energy Agency (IRENA) at a conference for the industry in Europe. “The growth of wind power over the past 15 years has matched that of telecoms and IT, with wind becoming a mainstream generation technology around the world,” said the IRENA Director-General, Adnan Z. Amin.

But the industry has faced tough times since 2009, when annual market growth fell into single digits, following 15-year average growth of 28 per cent. Along with the prevailing economic uncertainty and fiscal challenges, the industry suffers from high market concentration, with oversupply in the most advanced wind markets.