Wind power market is
basically segmented into two types Wind farms & Small winds.
Winds farms provide electricity to large utilities or major consumers
like industries
According to Global
Wind Energy Council, worldwide wind energy installations were 34-35
GW in 2013. This will be the first time in the decade where global
demand for wind power shrinked, mainly because of china and the U.S.
In Europe, the U.K. and Germany are likely to propel the market, with
growth from countries such as Finland Denmark and Sweden along with
eastern European countries such as Turkey and Poland.
After the two
dominating markets such as the U.K. and Germany for offshore wind,
China is in the race to quickly wrap up its huge offshore wind farms
projects of hundreds of MW in the near future. Although fixed tariff
for offshore wind farms is yet to be decided. Offshore market in
China is expected to accelerate owing to the rapid growth, once it is
done with all the overlapping jurisdictions and regulatory issues.
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The offshore wind
market in the U.S. is still testing the frequency of offshore water.
In the U.S., Cape Wind project in Massachusetts and the Deepwater
Block Island project received all the certifications to start both
the projects as early as possible. Majorly, the promising offshore
wind market is in Japan that has huge potential to tap wind energy.
First floating offshore wind farm and floating offshore substation
are in the Fukushima region. These projects achieved approval in less
than two years from the concerned authorities. It is expected that
this year will see more progress owing to the usage of high capacity
semisubmersible and floating spars. Commissioning for such projects
is planned for next year. Domestic offshore wind operations and
Maintenance capabilities along with the strong supply chain network
are the key drivers of the Japan’s wind energy market.
Strong regulatory
support and active participation from financers are important to
increase the share of renewable energy investments in developing
economies such as India and China. Also, ensuring that the solar and
wind industries are taking important lessons from each other
experience can help both the markets to grow at a healthy rate in the
coming future. By forming a joint venture with financial institutions
to develop strong and effective financing policies and mechanisms,
government and stakeholders can provide a needed alteration in the
wind energy market that can easily provide power in future and can
help mitigate worst impacts of climate.
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Financing in wind
energy sector is mainly balance sheet financing as credit period from
private investors has been extended to the wind power projects on the
basis of the balance sheet strength from the developer rather than
the creditworthiness of the project. However, with the rise of the
new financial policies, financial institutions have started
considering non-recourse financing.
Stringent government
rules and regulations and increasing usage of the clean energy are
some of the key drivers of the wind power market. However, huge
amount required to carry out the maintenance process of turbine and
other equipments can hamper the growth of the market. Large numbers
of opportunities are there for the wind energy market owing to the
increase in the pollution level and respiratory problems from
conventional fuels.
Some of the key
companies in the business of wind power are AWS Truepower, LLC, DNV
GL, Blue Sky Energy, Inc., Enercon India Pvt limited, Wind World
India limited, GE Wind Energy Limited, Orient Green Power Limited,
Indowind Energy Limited, Aban Loyd Chiles Offshore Ltd, Newam Power
Company Ltd. and Suzlon Energy among others.
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