China’s Wind Power Installed Capacity Will Escalate to 495 GW by 2030, says GlobalData
Wind power installed capacity in China will more than treble from approximately 149 Gigawatts (GW) in 2015 to over 495 GW by 2030, representing a Compound Annual Growth Rate (CAGR) of 9%, according to research and consulting firm GlobalData.
The company’s latest report states that China has the highest wind power globally by far, accounting for a third of cumulative wind power capacity worldwide in 2015, followed by the US with 17% of the global share.
Aswani Srivatsava, GlobalData’s Analyst covering Power, says supportive government policies that include an attractive concessional program and the availability of low-cost financing from government banks are the main reasons for the success of the Chinese wind power market. ….