China wind power

Specifically, offshore wind is showing a promising growth potential.

China led new installations.

The country’s sector is expected to advance despite high investment costs and fading subsidies.

New grid-connected capacity declined by 21%YoY in 2022, Wood Mackenzie reported. 

Companies in China are estimated to have a 50% share of the wind turbine market.

The market accounted for 70% of the order capacity during the year. 

A total of 35GW out of 43GW global orders were from China.

It will add 40GW annually on average.

Advanced digital solutions can cut China’s LCoE by up to 12%, reports said.

This power project will produce 66,900 tons of green hydrogen a year.