Goldwind Sees Market Share Increasing Amid Record Installations

  • Market share in China growing as year progresses, VP says
  • Developers rushing wind farm construction before tariff cuts

Xinjiang Goldwind Science & Technology Co., China’s biggest maker of wind turbines, sees market share in its home market continuing to increase amid its expectations that installations will reach a record this year.

Goldwind accounted for 20.6 percent of the Chinese wind market in the first half, up 1.5 percentage points for all of 2014, according to a company presentation. The company estimates its share for the 12 months of 2015 may exceed its first-half result, said Vice President Ma Jinru.

China, the world’s biggest wind market, may add as many as 30 gigawatts this year, with new additions maintaining similar record levels for the next two years, Ma forecasts. Further out, installations may head even higher after 2017 when the nation builds several ultra-high voltage electricity lines to transmit power from where it’s generated to where it’s needed, she said.

Chinese developers have rushed to build wind farms this year ahead of tariff cuts and big turbine producers have captured more market share from smaller rivals.

China in October proposed cutting the preferential rate it offers wind power developers annually in the five years through 2020 to make electricity from clean sources more competitive compared with coal power.

Wind Prices

This will be "positive" as the plan clearly lays out future wind power prices, making the market more stable, Ma said. Goldwind will benefit from the cuts as customers seek good products for more wind power output, she said.

Net income in the first three quarters was about 2.11 billion yuan ($330 million), increasing by 75 percent from a year earlier, according to the presentation.

For years, China’s wind power industry suffered from idled capacity because power grids have been unable to catch up to the pace of new installations.

Curtailment may improve after more UHV electricity lines are built, Ma said.

— With assistance by Feifei Shen

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