Asia-Pacific wind energy sector set for rapid growth, as China becomes world’s largest market in 2030
- China could add 93 gigawatts worth of new offshore wind power capacity from 2021 to 2030, Wood Mackenzie says
- Global growth will be largely driven by high demand across Asia-Pacific, especially in China, webinar hears
The Asia-Pacific region’s wind energy sector is set for rapid expansion and could make up nearly a quarter of the power capacity mix in the area this decade, according to a new study, as high domestic demand for offshore wind power turns mainland China into the world’s largest market by 2030.
China, the world’s biggest carbon emitter, is forecast to add 93 gigawatts (GW) worth of new offshore wind power capacity from 2021 to 2030, according to resource consultancy Wood Mackenzie.
“Wind energy, both onshore and offshore, has the lowest life cycle emissions of any mainstream energy technology, which is why its role has been recognised by different global institutions to reflect the global net-zero consensus,” Qiao Liming, head of Asia at Global Wind Energy Council (GWEC), said during a webinar last Friday.
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China's largest offshore wind farm ready to start operations
GWEC expected the global wind energy sector to significantly expand from 2022 to 2025, with a compound annual growth rate of 3.5 per cent, and annual added capacity to reach 110.6GW in 2025. It said the average annual wind installation in the four years to 2025 will reach 96.4GW, up 3.7 per cent from 93GW in 2020.
Global growth will be largely driven by high wind power demand across the Asia-Pacific region, especially in China, Robert Liew, principal analyst of power and renewables at Wood Mackenzie, said during Friday’s webinar.