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FTI Intelligence Releases preliminary Wind Turbine OEM Rankings and Highlights from yet another excellent FTI report

In SINDAL’s capacity as exclusive marketing and sales agent in the Americas for wind energy reports published by FTI Intelligence, we are excited to introduce you to FTI Intelligence’s preliminary highlights from the coming report: Global Wind Market Update – Demand and Supply 2014.

The Global Wind Market Update ― Demand & Supply 2014 report will comprise over 175 pages, with more than 60 tables, charts and graphs illustrating the development in the global wind market. It will present FTI Intelligence’s latest market forecasts for 2015-2020 and a view of the market by 2025.

Preliminary results are subject to change between now and the release date of the actual report.

Preliminary Findings in the Global Wind Market Update – Demand & Supply 2014

For the February 23, 2015 full FTI Intelligence press release please visit
http://www.fticonsulting.com/global2/press-releases/united-states/record-year-global-top-10-turbine-oems.aspx

1. Global wind capacity bounced back with more than 50GW in 2014, over 40 percent growth on 2013. This was mainly driven by a record breaking growth in China, Germany and Brazil.

2. The interim offshore wind feed-in tariff (“FiT”) released in China in June 2014 provided the guideline for projects commissioned before 2017, but concerns about the proposed reduction of the country’s onshore wind FiT by the end of June 2015 created a market rush.

3. In October, EU leaders committed to reduce greenhouse gas emissions by at least 40 percent by 2030, increasing energy efficiency and renewables by at least 27 percent, lower than the earlier goal of 30 percent that is not legally binding at the national level.

4. President Barack Obama and Xi Jinping signed an agreement to combat climate change by cutting carbon emissions. The U.S. pledge to cut carbon pollution to 26-28 percent below 2005 levels by 2024, and Chinese pledge that 20 percent of its energy will come from low-carbon source by 2030, bring climate change back higher on the public and political agenda.

5. In December, the U.S. Senate approved an extension for the Production Tax Credit (“PTC”) for wind through the end of 2014, leaving little time to boost new project development. The U.S. wind market may collapse again in 2016 if the PTC is not renewed early in 2015.

6. At a broader policy level, the wind industry continues to see a transition away from fixed FiTs and towards more market-reflective support mechanisms in 2014. The latest revision of the renewable energy legislation in Germany and Poland are a few key examples.

7. Low wholesale electricity prices, prompted by overcapacity in generation and sluggish demand across the continent, have forced a number of European-based utilities to cut back offshore plans in 2014. Divesting stakes in onshore and offshore wind projects have enabled capital to be “recycled” and has become a mainstream strategy.

8. In search of low cost capital, the wind industry has seen a steady drumbeat of yieldco initial public offerings from major wind farm operators on both sides of the Atlantic. Several large deals in 2014 reflect the growing dominance of yieldcos in the M&A market.

9. Consolidation among turbine manufacturers has been a strong feature in 2014. Following the offshore wind joint venture signed between Vestas and Mitsubishi, Gamesa and Areva signed binding agreements for the creation of a joint venture in the offshore section in July 2014. In November, the French government approved the proposed take-over of Alstom's power division by GE, which brings GE back to the offshore wind sector.

10. The global wind industry has become leaner and more flexible to change, having seen the shake out of a quarter of businesses from the wind market and OEMs focusing on platform based turbine development.

To secure your copy upon release of this excellent report please contact
Anne-Marie Howe at This email address is being protected from spambots. You need JavaScript enabled to view it.

 

 
 

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