Wind energy industry to grow considerably in the next years to come

29/08/2013 10:17

news

Wind energy market is set to grow significantly as it is expected a major demand in Asian market. Recently, Siemens, a major wind turbine maker said that wind energy market is going to quadruple by 2030.

According to Markus Tacke, chief executive of the German group’s wind power division, the installed capacity worldwide is set to raise to 1,107 GW in 2030, in comparison to 273 GW registered last year. The huge increase is going to come from Asia, as it is expected that by 2030 it could obtain 50% of its energy from wind, while currently it is getting about 34%. Each year between 2006 and 2011 China has doubled its wind capacity and it is expected that it will continue to grow in the next years to come. In 2012, wind energy became the third-largest source of energy in China behind coal and hydropower. This year, China intends to put into its grid more renewable energy than the entire generating capacity of Turkey as the Chinese government has announced at the beginning of this year that it intends to install 49,000 MW of solar, wind and hydroelectric power. China’s home-based wind companies control the domestic market, nevertheless General Electric, the US’ largest wind turbine producer, set up a joint venture in China in 2010. Vestas, the Danish wind giant, also controls factories in China. Meanwhile, the European wind market is set to contract in the next 2 years to come as many governments of the European Union have reduced subsidies for renewable energy as they afford a stagnation of the economies.

Daily (11.09.2019): A strong rise in European gas and power prices on Tuesday following several bullish news

11/09/2019 12:16:00

The abrupt firing of the combative U.S. national security advisor John Bolton raised a softer oil supply outlook, leading to a decline in oil prices on Tuesday. The news spurred speculations that U.S. might head for a potential de-escalation in tensions with Iran and an improved trade with Venezuela. However, gains were capped by earlier assurances of continued output cuts from OPEC and its allies. Consequently, WTI futures fell by 0.8% to 57.40 USD/bbl, while Brent crude edged down by 0.3% to 62.38 USD/bbl.

<READ MORE

Netherlands to halt Groningen gas production by 2022

11/09/2019 08:34:00

The Netherlands will halt production at Groningen, Europe’s largest onshore natural gas field, by 2022, eight years earlier than initially planned, the Dutch government said on Tuesday.

READ MORE

Wind tender in Germany awards just 37.4% of 500-MW target

11/09/2019 08:29:00

Another onshore wind tender in Germany ended with no real competition, awarding just 187 MW of capacity at the ceiling price of EUR 62 (USD 68.4m) per MWh, Germany’s Federal Network Agency announced today.

READ MORE