Chinese wind sector growing in strength

Chinese wind companies won more than 30 per cent of global turbine sales in 2011 and their combined turbine manufacturing capacity is expected to be worth $73bn this year.

China is increasingly shifting focus to developing markets and away from the US and Europe, where the market is undeveloped but promises to grow quickly from a low base.

Wind energy

China’s turbine exports are still small as a per cent of total global installations, but increasingly Chinese groups including Sinovel (SEHK: SINOVZ) and Goldwind ((SZSE: 002202)– the world’s second- and third- biggest turbine makers by market share – are setting up local production facilities to m eet the needs of wind markets overseas.

“Given the uncertain global climate for wind and solar since last year, we think this represents a very good opportunity for us to focus on developing markets,” Zhang Chuanwei, chief executive of Mingyang, China’s fourth-largest turbine producer by sales, told the Financial Times.

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