By Babalwa Bungane
Despite the financial and provide chain impacts felt the world over in 2020 attributable to COVID-19, the worldwide wind power business has continued to energy forward and attain new information.
According to new evaluation by GWEC Market Intelligence in its newest This fall 2020 Wind Energy Auction Update, almost 30GW of recent wind energy capability was awarded globally via auctions within the second half of 2020, which is a slight enhance in comparison with the 28GW awarded throughout H2 2019. This surge in new auctioned capability is a transparent sign that the business is again on monitor and dedicated to increase the worldwide pipeline of wind energy initiatives, notes the report.
While the primary half of 2020 noticed auctions being postponed or cancelled due COVID-19 restrictions, the sector bounced again with vigour within the second half of the 12 months as key mature and rising wind markets started overcoming the impacts of COVID-19.
Overall, almost 35GW of recent wind energy capability was auctioned globally in 2020. The replace acknowledges that though it is a 26.5% lower in comparison with the earlier 12 months, 2020 was nonetheless the second-highest 12 months on document for auctioned wind capability.
“Although there have been preliminary issues from the business that the COVID-19 pandemic would severely affect the pipeline of wind energy initiatives the world over, the sector’s spectacular comeback in Q3 and This fall 2020 has proven that wind energy has emerged from the disaster stronger than ever, with 2021 now anticipated to be a document 12 months for brand spanking new auctioned capability,” stated Feng Zhao, head of technique and market intelligence at GWEC.
This inflow of auctioned capability in H2 2020 was led by the world’s largest wind market – China. Although no capability was awarded in China through the first half of the 12 months, the market recovered formidably, starting in Q3 2020, awarding almost 12GW of recent wind capability via auctions. This momentum continued into This fall 2020, with 11GW of recent wind energy initiatives permitted within the final two months of the 12 months alone.
In complete, China accounted for 67% of the worldwide wind energy capability auctioned and awarded in 2020, with subsidy-free onshore wind initiatives accounting for 96% of the permitted capability in China.
In addition to the outstanding progress in China, there have been eight different nations which awarded new wind energy capability in H2 2020, together with: India (2.2GW), Germany (1.5GW), Poland (900MW), Netherlands (759MW) Ireland (479MW), Greece (472MW), France (258MW), and Ecuador (110MW).
Other nations comparable to Brazil, Chile and the US, which both cancelled or postponed their auctions in 2020 because of the disaster, have now rescheduled them to happen in 2021, which is able to drive the document public sale ranges.
The full This fall 2020 Wind Energy Auction Update, which incorporates each evaluation and a full database of worldwide wind auctioned capability, is out there solely on GWEC’s Members Area.
This article was initially posted on ESI Africa and was republished with permission.
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