30 Jul '18, 10am

Auctions to boost China's annual growth

Auctions to boost China's annual growth

Once the auction mechanism, which was announced in May 2018, is fully in place, average annual capacity additions will increase from 2021 to 2027, analysts at Make Consulting stated. On average, more than 20GW will be added per year during the 10-year outlook to 2027. China , which leads the world for wind-power installations, is expected to surpass 210GW of cumulative capacity by 2020, Make believes. The country had set itself this target in its 13th five-year plan for wind power in 2016. Offshore wind and repowering will also be large contributors to this upwards trend, Make said. "Due to the rapid increase in new capacity over the past years, China offers a great market opportunity for repowering," the analysts stated. More than 300 turbines were due to be more than 20 years old by the end of 2017, with this number due to increase. Developers, especially provincial stat...

Full article: https://www.windpowermonthly.com/article/1489097/auctions...

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