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Spain has implemented strict steps during the Covid-19 pandemic, the most notable being the country shutting down eight of its coal-based generation units, as well as its decision to phase out coal-based generation by 2025. The low cost of gas is acting as a likely trigger for the country to extend gas-based electricity generation, moving away from the unviable coal-based power plants.
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Wind Power Market seeing increased risk and disruption
The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021.
This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030.
However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption.
In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030.
Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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Free Report
Wind Power Market seeing increased risk and disruption
The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021.
This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030.
However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption.
In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030.
Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
By GlobalData
Thank you.
You will receive an email shortly. Please check for download the Report.
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