Thursday 13 July 2023

‘Global wind installations set for double-digit growth’

‘Global wind installations set for double-digit growth’

Global wind installations are poised for a significant upswing, with double-digit growth expected between 2024 and 2026.

According to Bloomberg Intelligence (BI)'s Global Wind Energy Midyear Outlook, this year's wind capacity additions could surge to approximately 110GW, increasing from the 87GW recorded in 2022.

China is anticipated to account for almost half of the capacity additions this year, with Goldwind, the country's largest turbine manufacturer, expected to experience a 16% boost in top-line growth based on consensus estimates.

While growth projections are more modest for European manufacturers Vestas, Siemens Energy, and Nordex, BI suggests a potential upside to analysts' forecasts for the period of 2024-2026.

The report highlights the potential for a substantial resurgence in the wind energy sector, driven by various factors such as supportive policies and initiatives aimed at reducing inflation and promoting renewable energy.

Written by

Bruna Pinhoni

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