Jun 28 | 2019
EPC for Offshore Jiangsu Windfarm
Chinese industrial firm Zhongtian Technology has been awarded a development contract for the Sheyang H1 offshore wind farm in China.
The engineering, procurement, and construction contract was awarded by developer Huaneng Renewables Corp. Ltd. It will cover transport of project cargo to the site, located 15 kilometers offshore near the coast of Jiangsu province.
Huaneng Renewables is a subsidiary of China Huaneng Group, one of the five largest state-run electric utility enterprises in China.
Fitch Forecasts China Growth
Rating agency Fitch has forecast that China will dominate the global wind power sector, as subsidies are phased out. The agency predicts that the majority of global growth will come from China, which will install three quarters of Asia’s total wind capacity over a 10-year forecast period.
“Wind power generation will be the dominant source of non-hydropower renewables electricity generation, accounting for just under half of total renewables output over our 10-year forecast period to 2028,” a spokesperson for Fitch said.
Fitch also predicts that Asia will be the dominant region for wind power capacity increases, accounting for up to 62 percent of global growth.
China oo Invest in Wind
The Chinese government previously announced plans to invest US$101 billion in wind power infrastructure by 2020, a strategy that is expected to drive significant breakbulk demand in the sector.
The investment is part of a total US$361 billion earmarked for renewable infrastructure in the country the National Energy Administration, or NEA, in line with the national five-year plan from 2016 to 2020.
Financing is in line with a strategy from the China’s economic planning unit, the National Development and Reform Commission, to spend US$140 billion on solar energy in the country to boost capacity five-fold.
The NEA estimates that its spending targets for renewable will create more than 13 million jobs in the sector and will drive significant construction and breakbulk activity.
Photo: Wind turbine. Credit: Wikimedia
The engineering, procurement, and construction contract was awarded by developer Huaneng Renewables Corp. Ltd. It will cover transport of project cargo to the site, located 15 kilometers offshore near the coast of Jiangsu province.
Huaneng Renewables is a subsidiary of China Huaneng Group, one of the five largest state-run electric utility enterprises in China.
Fitch Forecasts China Growth
Rating agency Fitch has forecast that China will dominate the global wind power sector, as subsidies are phased out. The agency predicts that the majority of global growth will come from China, which will install three quarters of Asia’s total wind capacity over a 10-year forecast period.
“Wind power generation will be the dominant source of non-hydropower renewables electricity generation, accounting for just under half of total renewables output over our 10-year forecast period to 2028,” a spokesperson for Fitch said.
Fitch also predicts that Asia will be the dominant region for wind power capacity increases, accounting for up to 62 percent of global growth.
China oo Invest in Wind
The Chinese government previously announced plans to invest US$101 billion in wind power infrastructure by 2020, a strategy that is expected to drive significant breakbulk demand in the sector.
The investment is part of a total US$361 billion earmarked for renewable infrastructure in the country the National Energy Administration, or NEA, in line with the national five-year plan from 2016 to 2020.
Financing is in line with a strategy from the China’s economic planning unit, the National Development and Reform Commission, to spend US$140 billion on solar energy in the country to boost capacity five-fold.
The NEA estimates that its spending targets for renewable will create more than 13 million jobs in the sector and will drive significant construction and breakbulk activity.
Photo: Wind turbine. Credit: Wikimedia
