China Aiming to Become the Leader in World Wind Power Market

China is in the news again for emerging as a global powerhouse with its wind energy installation capacity. A recent story from the New York Times indicates that the wind energy market in China has reached an incredible 25.8 GW during the year 2009 from its installed capacity of 12.2 GW during the year 2008, thus depicting a stunning growth of 13.8 GW in a year.

China with its  population of 1.3 billion and economy valued at $1.33 trillion went past Japan during the second quarter of 2010 whose economic value stood at about $1.28 trillion and now China stands next to USA. During the recent past China went ahead of Great Britain, France and Germany by surpassing their economy. The story echoed the voice of the experts and further reports that with its present growth- rate China will easily surpass the economy of United States even before the year 2030.

According to a recent report from an International Energy Agency, China has assumed the position of the world’s largest energy consumer and discharger of greenhouse gases. The country by its installation of 25.8 GW wind energy projects has surpassed Germany and now stands only next to United States in wind energy installation capacity. The growth of China’s wind energy market also extends business opportunities to European companies engaged in the manufacture of wind energy products. Most of these companies, instead of relocating their production units to China to meet its demands continue to locate their manufacturing facilities in Europe and export the turbines to China while persisting in meeting the growing wind turbine demand in other European countries.