This is a recent analysis titled “China’s current power crisis could represent an opportunity for the wind industry” by Global Wind Energy Council and Azure International. According to the analysis, despite skyrocketing raw material prices, the wind sector has been an exception in China, with both onshore and offshore tender prices reaching new record low – 2000 CNY/kW milestone for onshore and 4000 CNY/kWh for offshore in the latest tenders.
China’s wind industry is now competing successfully with its coal industry without any support and it is estimated that between 10.7 and 15.1 GW of new offshore wind capacity will come online in 2021. The country’s wind market has reached economies of scale, coupling with a highly robust localised supply chain and technical innovation, it is now in the position to supplant coal as China’s main electric source.
The complete analysis can be accessed here
