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Wind Purchases to Fall in 2012 as Sinovel Profits Drop

Purchases of wind turbines and other equipment will decline 14 percent this year and won’t surpass 2011 levels for two years, reducing profits at companies including Sinovel Wind Group Co., according to Bloomberg New Energy Finance.

Capital investment in wind-power assets worldwide will be $69.2 billion in 2012, down from $80.5 billion last year, as oversupply and waning government support in the U.S. and Europe cut demand. Total installations, including onshore and offshore projects, will be 49 gigawatts, said Justin Wu, head of wind analysis at New Energy Finance in Hong Kong.