Posted on: 26/03/2019
Enough turbines to generate an additional 723GW of wind power are expected to be erected around the world between now and 2028, analysts at Wood Mackenzie have predicted.
In their latest Global Wind Power Market Outlook Update, researchers said 50.2GW of power were added during 2018, a 4% year-on-year increase.
Luke Lewandowski, Wood Mackenzie’s Power & Renewables Research Director, said: “This significant level of investment seen last year was largely driven by a resurgence in China.
“The lifting of red warnings in key Northern provinces in China unlocked development, contributing to a 37% uptick year-on-year in the country, which influenced nearly 2GW of net capacity additions globally last year.”
Offshore key for Europe
While China grew, Europe add less capacity than during previous years flowing the end of the Renewables Obligation in the UK and feed-in tariffs in Finland and Germany.
Yet Europe is still expected to add a further 20GW of capacity each year as wind farms compete for contracts in capacity auctions.
Lewandowski added: “Offshore remains central to Europe’s outlook, comprising more than 25% of new capacity over the outlook and penetrating new markets in Southern and Eastern Europe.”