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  1. Market Data
November 3, 2021

Binhai Beiqu Offshore Wind Power Project, China

By Carmen

Binhai Beiqu Offshore Wind Power Project is a 500MW offshore wind power project. The project is located in Yellow Sea, Jiangsu, China. The project is currently active. It has been developed in multiple phases. The project construction commenced in 2015 and subsequently entered into commercial operation in June 2016.

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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.
by GlobalData
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Project Type Total Capacity (MW) Active Capacity (MW) Pipeline Capacity (MW) Project Status Project Location Project Developer
Offshore 500 500 Active Jiangsu, China China Power Investment; SPIC Jiangsu Electric Power

Description

The project was developed by China Power Investment and SPIC Jiangsu Electric Power. SPIC Jiangsu Electric Power and State Power Investment are currently owning the project.

The wind turbines in the Binhai North Phase 2 are installed on fixed foundations. An array of monopile foundations feature in the phase.

Development Status

The project is currently active. The project construction commenced in 2015 and subsequently entered into commercial operation in June 2016.

Contractors Involved

Shanghai Electric Wind Power Equipment was selected as the turbine supplier for the wind power project. The project consists of 125 units of SWT 4.0-130 turbines, each with 4MW nameplate capacity.

About China Power Investment

State Power Investment Corp Ltd (SPIC), established by the merger of China Power Investment Corp and State Nuclear Power Technology Corp, is a state-owned power generator enterprise. The company owns and operates power generation plants and offers hydro-power, thermal power, nuclear power and new energy generation services. The company carries out research and development, designing, and manufacturing of nuclear power components and equipment. SPIC’s business activities include project contracting, mining investments, life cycle services and technical supports. The company operates in China, Japan, Malta, Australia, India, Turkey, Pakistan, Brazil and Myanmar. SPIC is headquartered in Beijing, China.

Methodology

All power projects included in this report are drawn from GlobalData’s Power Intelligence Center. The information regarding the project parameters is sourced through secondary information sources such as electric utilities, equipment manufacturers, developers, project proponent’s – news, deals and financial reporting, regulatory body, associations, government planning reports and publications. Wherever needed the information is further validated through primary from various stakeholders across the power value chain and professionals from leading players within the power sector.

Related Companies

Free Report
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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.
by GlobalData
Enter your details here to receive your free Report.

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