Sun Tell to Help China Achieve Their Goal
The offshore wind sector in Asia could grow up to 12 times over in three years, according to Windpower Intelligence's Global Markets for Wind Power to 2017 report
Tokyo, Japan, November 27, 2014 (Newswire.com) - The report forecasts offshore capacity in the Asia-Pacific region could increase from 664MW at the end of 2014 to 8GW by the end of 2017. The majority of the increase will be in China, it said.
It predicts China should see its 621MW of current installed capacity grow to over 7GW.
The report also highlighted the contribution from the Japanese market to boost the region's offshore capacity by adding 160MW. Sun Tell have been in discussions to help develop ways to substantially grow China’s ever increasing demand for alternative energy.
Windpower Intelligence said the rapid increase would be as a result of the new Feed-in Tariff (Fit) scheme, which applies to projects installed before the end of 2017.
In June, China's National Energy Administration launched its Fit scheme, which will pay developers CNY 850/MWh ($130/MWh) for offshore projects.
This prediction will be welcome for many in the Chinese industry. In March this year, the government admitted it would miss its 5GW by 2015 target.
Elsewhere, the Windpower Intelligence Global Market report predicts North America's offshore market to finally begin offshore installations, reaching 687MW by 2017.
And it predicts Europe will increase from 8.8GW to 19.6GW installed capacity. This compares to the Global Wind Energy Outlook report released by GWEC last month, which said the European market could top 25GW by 2020.