Spotlight Market | China
GWEC'S GLOBAL MARKETS THEATRE AT WINDENERGY HAMBURG
China has been the world’s largest wind market by installed capacity since 2010. The continued growth of wind in China over the past decade is mainly due to ambitious policies from the central government.
2020 was a record year, with more than 54 GW of installations primarily driven by the expiration of the onshore wind FiT. Although onshore wind growth slowed down last year, China retained strong momentum in 2021. According to the National Energy Administration (NEA), 47.5 GW wind capacity was grid-connected in 2021, making it the second-best year in the country’s history.
After a decade of rapid growth, China’s renewable market has entered a new stage. Support for renewables has shifted from a FiT model to a “grid parity” model, where renewable-generated electricity will receive the same remuneration as coal-fired power plants.
China is also the world’s largest wind turbine manufacturing hub, accounting for 60-65% of global production of turbine nacelles and key components including gearboxes, generators and blades. There are still 20 turbine manufactures active in the Chinese wind market today.
With the Chinese market expecting to ease over the next 12 months, what impact will this have on the rest of the wind industry? Will Chinese manufacturers continue to gain momentum outside of their domestic market?
This session will provide insight into the largest Chinese Developers and OEMs in relation to how they see their domestic market and how they plan to continue their growth outside of China.