China’s Offshore Wind Power Prices to Undercut Coal This Year
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China will see the price of offshore wind power dip below that of coal-generated electricity for the first time this year, as the government approves a raft of the renewable energy projects.
A 306-megawatt wind farm off Shanghai has been officially approved to supply electricity at 27% below the coal power price benchmark, according to a report in industrial news outlet BJX.com this week. It’s the latest among several projects that are expected to come online to triple the country’s offshore wind generation capacity to 129 gigawatts by 2030, according to BloombergNEF.