Posted by Greener Tomorrow on April 13th, 2011
China will install as much as 18 GWs of wind power capacity this year. As leading nation in wind energy China is heavily investing in wind energy to meet it 2020 goal of 15% renewable energy. Although this year’s build up will be significantly smaller than the 25 GWs that went online last year, it will still be an impressive achievement.
If all goes well, the country will end 2011 with a total of 58 GWs of installed capacity, moving ahead with plans to install as much as 150-230 GWs over the next decade. China already has the world’s largest installed wind capacity.
Overall, the country will invest 5000 RMB per kW (US $764) or about US $764,000 per MW of wind turbine capacity. Ma says the price is declining fast, with some turbines selling for as little as 4000 RMB (US $611) per kW. State banks will fund the developers behind the projects but some international banks and the World Bank will also provide financing, she adds.
The bulk of the new capacity will be onshore with just 100 MW earmarked for offshore capacity in the Guangzhou province in Eastern China.