Wind Energy Industry Boosted by Booming Repowering Market

FOR IMMEDIATE RELEASE

Wind Energy Industry Boosted by Booming Repowering Market

LONDON, UK (GlobalData), 8 March 2012 - Installed wind capacity is set to increase as wind power markets are expected to witness massive growth in multiple regions, following a temporary decline caused by the global recession, a new report by market intelligence experts GlobalData has found.

The new report* shows that the wind power industry made a strong recovery from the financial crisis in 2011, helped by the extensive work demanded by sites due for repowering maintenance. The historic pattern of wind power installations predicts an enormous surge in the repowering industry within the next five years, and the market is anticipated to experience a whirlwind of activity.

The global wind repowering market in 2011 was primarily dominated by Denmark, Germany, the US and India. Denmark was the largest wind repowered market with an estimated 213.1 MW, accounting for around 51.6% of the total global repowered capacity. Germany, the second largest wind repowered market in 2011 forms around 43.1% of the global repowered capacity.

While global installed wind energy capacity increased dramatically during 2006-2009, the global recession sparked a 13.8% fall in annual additions during 2010, when major wind markets, including the US, Germany and Spain, faced economic struggles as a result of the global recession. These markets are soon expected to recover thanks to a huge order intake by major wind manufacturers across emerging regions. Wind power manufacturers worldwide received a high order intake in 2010, with expected delivery deadlines in 2011 and 2012, contributing to the large total of annual installations expected this year.

According to GlobalData, the value of the global wind repowering market has increased significantly during the last five years. In 2005, wind sites were repowered to an estimated cumulative capacity of 877 megawatts (MW). Since this time, the cumulative installed capacity has risen dramatically to 2,499.4 MW. Still, this explored capacity represents only around 17% of the total global repowering potential, which is estimated to exceed 50,000 MW by 2020.

In 2011, wind farms producing around 182.6 GWh of power were replaced with turbines capable of generating 773.7 GWh of power. In 2020, the repowered wind farms are expected to increase their power generation from 1,523.5 to 8,221.1 GWh due to the higher capacity and efficiency of the new turbines.

-ENDS-

NOTES TO EDITORS

*Wind Repowering - Capacity, Generation and Cost-Benefit Analysis to 2020

This report offers comprehensive information and understanding of the wind repowering industry, and analyses the wind repowering market potential by individual country. Historical and forecast analysis of the global wind repowering installed capacity and power generation are given, alongside key drivers and restraints in the wind repowering industry. The repowered capacity additions, repowered generation, cost-benefit analysis and generation based revenue is also shown for countries such as Germany, the UK, Denmark, the US and India.

This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData's team of industry experts.

ABOUT GLOBALDATA

GlobalData is a leading global business intelligence provider offering advanced analytics to help clients make better, more informed decisions every day. Our research and analysis is based on the expert knowledge of over 700 qualified business analysts and 25,000 interviews conducted with industry insiders every year, enabling us to offer the most relevant, reliable and actionable strategic business intelligence available for a wide range of industries.

© Scoop Media