NewEnergyNews: Huge Global Wind Expansion Coming

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    Friday, April 05, 2019

    Huge Global Wind Expansion Coming

    GWEC: Global Wind Report forecasts over 300 GW capacity to be added in next 5 years – growth to come from emerging markets and offshore wind

    3 April 2019 (Global Wind Energy Council)

    “…[The new Global Wind Report shows 51.3 GW of new installations were built in 2018 and market-based] mechanisms, such as auctions, tenders and Green Certificates were the main drivers…[It projects] around 300 GW of new capacity to be added in the next five years, as the wind industry continues to prove its cost-competitiveness in relation to incumbent fossil fuel generation and nuclear around the world…The report identifies three global trends as the main drivers of future market growth, aside from regulation and government targets: changing business models of industry participants, unlocking further volume through corporate procurement outside of mature markets and how value-focused solutions, such as hybrid generation plants, are unlocking more opportunities…

    …China accounted for the highest proportion of new installations in 2018, both offshore (40%) and onshore (45%)…Governments of South-East Asian markets like Vietnam and the Philippines have set targets for wind energy deployment to increase installations…Indonesia and Thailand have plans in place to decrease reliability on nuclear energy and fossil fuels…The Latin American wind market has grown over the past ten years, accumulating total installations of 25 GW…Auction and tenders [in Brazil, Argentina, Colombia, and other countries] will drive the majority of installations…The majority of onshore installations [in Africa and the Middle East] are expected to come from Egypt, Kenya, Morocco and South Africa, adding over 6 GW new capacity by 2023…The highest capacity additions in 2018 came from Egypt with 380 MW…” click here for more

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