China Emerges as World Leader in Wind Farm Development
A new report by Ernst & Young indicates that China has emerged as the definitive leader in wind farm development in 2010. More than half of all new money spent on wind farms in the last quarter landed in China, largely as the result of a subsidized energy development program.
In its latest Country Attractiveness Index (CAI) survey for renewable energy programs, the research group sees “a new world order emerging in the clean energy sector” with China now the clear leader in the global renewables market.
The report also notes four significant new entrants to the CAI: South Korea, Romania, Egypt, and Mexico.
China’s record spending on its wind industry this quarter represented nearly half of all funds invested in new wind projects around the world. South Korea leads the new entrants to secure 18th position, on the back of its ambitious targets, strong incentives, and robust supply chain. Romania and Egypt both achieved a ranking of 22 as a result of their fast-growing wind markets, while Mexico completes the new line up, ranking 25th, benefiting from challenging targets and strong wind and solar resources.
The analysis also discusses progress post the credit crunch, highlighting the differing pace of recovery between Western and BRIC (Brazil, Russia, India and China) nations, and analyzing the effect of commodity and carbon prices. This issue is supplemented by a technology focus article on solar CSP, discussing the key markets, the four major technologies, regulatory drivers and recent news.