China’s Wind Turbine Prices Have Hit Bottom, Goldwind Says
- China’s biggest turbine maker says focus should be on quality
- Turbine bids averaging about $370,000 per megawatt: BNEF
Wind turbines in Qidong, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China’s biggest wind turbine manufacturer said there’s no more room for prices to fall in the largest market after a dramatic decline in costs.
Prices for turbines in China have plummeted from about $700,000 per megawatt in early 2020 to about $470,000 at the end of last year, and bids for new projects are averaging about $370,000 now, according to BloombergNEF. Instead of seeking even lower prices, developers should shift their focus to quality and long-term returns on investment, Xinjiang Goldwind Science & Technology Co. Chairman Wu Gang said Friday in an online question and answer session.