Wind power to blow strong in New Zealand

Falling wind turbine prices are set to spark a surge in wind power investments in New Zealand.

New Zealand’s Wind Energy Association predicts the country’s wind farm capacity over the next 20 years could increase by as much as six times compared to today. Wind capacity is presently estimated at 622MW but is forecast to rise to 3500MW by 2030.

The association expects wind to generate around 20% of New Zealand’s electricity by 2030, up from 5% today because wind turbines have become more reliable and operations and maintenance costs are falling.

The government also wants 90% of the country’s energy to be generated from renewable sources by 2025, a goal that bodes well for the wind sector.

The association cited sources which said that wind projects commercially attractive at under NZ$85 per megawatt hour.