The Net electricity generated by Wind power plants in China reached 467,673.12 GWh in 2020
The indicator recorded a historical growth (CAGR) of 15% between ...
GlobalData projects the indicator to grow at a CAGR of 12% between ...
Demand for wind power is on the rise in China, here know why?
China: The largest wind power market
China was the largest wind power market in the world in 2020. China overtook the US to become the number one wind power market in terms of new annual installations in 2010. Supportive government policies that include an attractive concessional program and the availability of low-cost financing from government banks were the main reasons for the success of the Chinese wind power market. China will likely continue to promote wind power in order to reduce its carbon footprint and increase rural electrification.
Power generation in China
In 2020, China led the global wind power market in terms of total power generated. The country accounted for a significant share of wind power generation in 2020. In 2030, the Chinese wind power market will likely be leading in terms of the total wind electricity generated.
The generation of electricity from wind turbines increased proportionally as capacity increased. The total wind generation in China increased between 2010 and 2020.
In 2021, the government set a subsidy for wind farms for poverty alleviation purposes in several regions. However, post 2021 the poverty alleviation program related to renewables is indicated to be phased out by the government.
Related Companies
China Energy Investment Corporation, China Huadian Corporation Ltd, and China Three Gorges Corp are among some of the prominent wind power generating companies in China.
China Energy Investment Corporation Ltd (China Energy) is a formerly known as China Shenhua Energy Company Limited, is a provider of coal, thermal power, wind power, coal-to-liquid fuels and coal chemicals. The company operates through six business segments, such as coal, thermal power, new energy, hydropower, transportation, chemical industry, environmental technology and finance. Its power segment undertakes thermal power projects for municipalities, autonomous regions, and load centers. China Energy also offers research and development services to the energy industry. The company was established by the merger of China Guodian Corporation and Shenhua Group. China Energy Investment is headquartered in Beijing, China.
The companies in China could benefit from the growing demand for wind energy in China. The increasing necessity to secure energy supply, energy independence and minimization of carbon emissions is leading to growth in demand for renewable sources of energy such as wind.
France
Germany
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Italy
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Spain
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