MAKE: China goal aids wind growth

Renewables analyst MAKE has added 0.5% to its wind market growth expectations for 2014-2016, partly thanks to China’s recently-announced 18GW installation target for the current year.

Releasing its Q2 Global Wind Power Market Outlook Update, MAKE said the Chinese goal, plus generally high market activity, offset a string of negatives that emerged in the first quarter of the year from the Europe, Middle East and Africa region.

Those downsides included wind expectations being downgraded onshore in Ireland and offshore in the UK, plus some impact from the upheaval in Ukraine.

Turbine orders grew 7.4% year-on-year in Q1, according to MAKE, with Vestas in the Americas, Siemens in Europe and China’s Windey named among the notable winners.

The analyst said turbine pricing is holding stable, with technical innovation supporting price points and the prospect  of strong demand for high-quality equipment in the Chinese market.