, China
Source: Pexels

China drives global growth of offshore wind

This is particularly due to the expansion of wind turbine manufacturer Mingyang.

The growth of offshore wind will largely be driven by China through the overseas expansion of China-based private wind turbine manufacturer Mingyang, a report found.

China has the largest offshore wind industry at present. Between 2010 and 2020, the market accounted for 32% of the total global expansion. 

The Institute for Energy Economics and Financial Analysis (IEEFA) noted that from 2020 and 2022, 1 in every five turbines is a model installed by Mingyang. 

“Mingyang’s overseas expansion could drive turbine sizes higher, wind farm development prices lower, and benefit the supply of offshore wind power in many markets around the world,” IEEFA Energy Finance Analyst Norman Waite said. 

Read more: Offshore wind growth to more than double in 2031: report

IEEFA noted turbines from China are more cost competitive compared in other markets. 

Prices of chinese turbines declined when preferential feed-in tariff schemes expired in 2020 for onshore wind, and in 2021 for offshore wind. 

“If companies need equipment from Chinese suppliers, they face shipping bottlenecks holding freight rates three times higher than 2019,” Waite said.

“Non-Chinese turbine manufacturers looking for the neodymium, dysprosium and terbium – found in the strong permanent magnets necessary for wind turbines – are likely to face an even more concentrated and even more politically fraught supply structure, which seem unlikely to resolve quickly.”

Read more: Asia poised to be the largest offshore market by end-2022: GWEC

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Laos poised to be Southeast Asia’s key electricity supplier
This comes amidst the development the Laos-Thailand-Malaysia-Singapore Power Integration Project.
Power Utility
US sanctions hit Iran’s clean energy sector: report
These have made it challenging for Iran to secure debt and equity finance amongst others. 
Lending & Credit
APAC to generate lion’s share of world’s energy by 2030
The region is expected to account for 56% of the world’s energy in the  next decade.
Power Utility
Wind energy industry needs 570,000 technicians by 2026
This comes as the global onshore and offshore wind increase in size by 67%.


Why Philippines’ EDC will not fire up coal
The devastating effects of climate change led the company to develop REs only.
Indonesia’s Pertamina signs up for hydrogen development
Pertamina is set to produce green and blue hydrogen as part of its clean energy target in 2030.