Wind power is expected to play a key role in China’s carbon-neutral goal, according to a report by Wood Mackenzie.

According to Principal Analyst Xiaoyang Li, stimulated by China’s target of 1,200 gigawatts (GW) of wind and solar set for 2030, 408 GW of new capacity will be added from 2021 to 2030 in which onshore wind comprises 82% of the total during the outlook, with an average annual capacity of 33 GW.

Meanwhile, northern regions continue to dominate the onshore wind market due to favourable wind conditions and policies. In Inner Mongolia, Hebei and Shanxi provinces where new-developed renewable energy bases are driving the high growth, state-owned developers sign GW-level development contracts directly with local governments. 

Additionally, a series of policies were released to support sustained wind market growth following China’s 2060 target announced in September 2020. These include the 2030 renewable capacity target, annual renewable portfolio standard targets, and benchmarked on-grid tariffs to stabilise onshore wind project profitability after subsidies ended in 2020. 

Guest post from Asian Power