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  1. Market Data
November 24, 2021

Guangdong Yudean Zhanjiang Wailuo Offshore Wind Project, China

By Carmen

Guangdong Yudean Zhanjiang Wailuo Offshore Wind Project is a 198MW offshore wind power project. The project is located in South China Sea, Guangdong, China. The project is currently active. It has been developed in multiple phases. The project construction commenced in 2018 and subsequently entered into commercial operation in August 2019.

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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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Project Type Total Capacity (MW) Active Capacity (MW) Pipeline Capacity (MW) Project Status Project Location Project Developer
Offshore 198 198 Active Guangdong, China Guangdong Electric Power Development

Description

The project is developed and owned by Guangdong Electric Power Development.

The wind turbines in the project are installed on fixed foundations. An array of monopile foundations feature in the project.

The project generates 500,000MWh electricity thereby offsetting 350,000t of carbon dioxide emissions (CO2) a year. The project cost is $557.321m.

Development Status

The project is currently active. The project construction commenced in 2018 and subsequently entered into commercial operation in August 2019.

Contractors Involved

Guangdong Electric Power Design Institute was selected to render EPC services for the wind power project.

China Ming Yang Wind Power Group was selected as the turbine supplier for the wind power project. The project consists of 36 units of MySE5.5-155 turbines, each with 5.5MW nameplate capacity.

About Guangdong Electric Power Development

Guangdong Electric Power Development Co Ltd (Guangdong Electric) is a subsidiary of Guangdong Yudean Group Co., Ltd. a leading china-based electricity distribution company. The company is also engaged in investing, constructing, operating and managing electricity projects. It also generates and sells electricity power apart from supplying heat and labor services to its customers. The Company is also engaged in clean energy projects, including Liquefied Natural Gas (LNG) power generation, wind power generation and hydroelectric generation. Guangdong Electric has a huge customer base across China. The company operates its business in china. Guangdong Electric is headquartered at Guangzhou, 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.

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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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