According to a report by Emerging Energy Research, China's plans to reach 100 GW of installed wind power generation capacity by 2020 are unlikely to be detailed - or even side-tracked - by the current global financial crisis. In the new assessment, China Wind Power Markets and Strategies, 2008-2020, Emerging Energy Research reports that despite inevitable slowdowns in market elsewhere, China's wind initiatives are so large in scale and so well supported by the government that the country's new renewable energy goals are likely to be met well before the 2020 target.
Discussing the report's findings before a special briefing session sponsored by EER during the Global Wind Power 2008 Conference & Exhibition in Beijing, EER Wind Research Director Keith Hays told an audience, "From planned projects to operational capacity, China is on track to become the single largest market for wind power by 2011. In just two years, China will account for more than 17 percent of the world's installed wind generation capacity, financed by an investment of more than $20 billion."
EER Analyst Caitlin Pollock, principal author of the China Wind Market study, echoed Hays' analysis in a discussion of the recently completed research. "China will lead the global wind market in annual installations by 2011 with an estimated 10 GW/year," Pollock said. "This is an initiative supported by strong political will, improving incentives, and vast natural and industrial resources. Chinese utilities, such as Longyuan and Datang, are now among the world's largest wind asset owners. And, while most of the newly emerged suppliers will fall victim to industry consolidation, according to Pollock, "China's wind technology incentives are forced on building an industry that can compete on a global scale...it's not just the domestic market that is driving China's investment strategies."
EER's new study, China Wind Power Markets and Strategies, 2008-2050, was completed following three months of in-market, primary research and interviews by EER's Asia research team with dozens of Chinese independent power producers (IPPs), utilities, component and turbine manufacturers, and government and provincial ministries. As part of the study, three forecasts (conservative, baseline, and aggressive) for China's wind market was developed, detailing wind energy capacity additions through 2020.
Despite the near-collapse of financial markets elsewhere and broad-based concern over the potential impact on funding for energy development projects, EER's analysis sees China's government wind energy priorities and the country's ravenous energy demand as drivers that will keep China on track to surpass its target of a 15 percent renewable energy capacity by 2020.
Source: http://www.emerging-energy.com/ Date: 20-11-2008
Discussing the report's findings before a special briefing session sponsored by EER during the Global Wind Power 2008 Conference & Exhibition in Beijing, EER Wind Research Director Keith Hays told an audience, "From planned projects to operational capacity, China is on track to become the single largest market for wind power by 2011. In just two years, China will account for more than 17 percent of the world's installed wind generation capacity, financed by an investment of more than $20 billion."
EER Analyst Caitlin Pollock, principal author of the China Wind Market study, echoed Hays' analysis in a discussion of the recently completed research. "China will lead the global wind market in annual installations by 2011 with an estimated 10 GW/year," Pollock said. "This is an initiative supported by strong political will, improving incentives, and vast natural and industrial resources. Chinese utilities, such as Longyuan and Datang, are now among the world's largest wind asset owners. And, while most of the newly emerged suppliers will fall victim to industry consolidation, according to Pollock, "China's wind technology incentives are forced on building an industry that can compete on a global scale...it's not just the domestic market that is driving China's investment strategies."
EER's new study, China Wind Power Markets and Strategies, 2008-2050, was completed following three months of in-market, primary research and interviews by EER's Asia research team with dozens of Chinese independent power producers (IPPs), utilities, component and turbine manufacturers, and government and provincial ministries. As part of the study, three forecasts (conservative, baseline, and aggressive) for China's wind market was developed, detailing wind energy capacity additions through 2020.
Despite the near-collapse of financial markets elsewhere and broad-based concern over the potential impact on funding for energy development projects, EER's analysis sees China's government wind energy priorities and the country's ravenous energy demand as drivers that will keep China on track to surpass its target of a 15 percent renewable energy capacity by 2020.
Source: http://www.emerging-energy.com/ Date: 20-11-2008
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