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

29/08/2013 10:17


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 (19.03.2019): NBP gas prices continued to fall by around 1% on Monday due to oversupply

19/03/2019 10:13:00

Crude oil prices inched up on Monday supported by the extension of OPEC-led supply cuts and a decline in U.S. crude inventories. Brent crude edged 0.6% higher at $67.54 a barrel, while WTI futures traded 1% higher at $59.09 a barrel.


Azerbaijan suspends pumping oil through Baku-Novorossiysk

19/03/2019 09:18:00

According to Azerbaijan´s Trend, the country has suspended oil pumping through Baku-Novorossiysk, said Ibrahim Ahmadov, Deputy Head of the Public Relations Department at SOCAR.


UK’s LNG Imports Jump To Highest Since 2015

19/03/2019 09:14:00

The UK is on track to import this month its highest volume of liquefied natural gas (LNG) since October 2015, as a wave of new global LNG supply and muted winter demand and low spot prices in Asia are boosting flows of the fuel to Europe.