Sinovel may build wind farm in Greece

Sinovel and Public Power Corporation SA Greece signed an initial agreement allowing Sinovel Wind to build wind energy plants in Greece. PPC Chief Executive Officer Arthouros Zervos and Sinovel Chairman Han Junliang signed the partnership agreement in Beijing. Zervos is accompanying Greek Investment Minister Haris Pamboukis on an official visit to China.

The cooperation may consist of a wind power station with installed capacity of 200-300 megawatts as well as an offshore wind power plant. Based on construction expenses of EUR 1.5 million for every megawatt in wind turbines plants, the contract value could hit EUR 450 million.

Greece’s government aims to meet European Union targets to derive 18 percent of energy consumption from renewable sources by 2020. Wind energy in Greece will account for about 83 percent of installed capacity to meet the 2020 targets.

According to the statistical data, Sinovel’s new installed capacity of wind power has soared from 3,510 MW in 2009 to 4,386 MW in 2010, with its global market share surging from 9.2% to 11.1%, thus maintaining the lead at home and jumping from the third to the second in the world.

Since China’s first homemade 1.5 MW wind turbine went offline at Sinovel in 2006, the company has accomplished the mass production of 1.5 MW and 3 MW offshore and onshore wind turbines. In October 2010, the company turned out China’s first 5 MW wind turbine in October 2010. Also, the autonomous globally leading grid-friendly 6 MW wind turbine is to go into production in the second quarter of 2011, making China the second country that can independently manufacture 6MW wind turbines after Germany.

Recent years have seen the drastic development of China’s wind turbine industry: the recent Statistics on Installed Capacity of China’s Wind Power in 2010 by China Wind Energy Association shows that 12,904 wind turbines were added in China (Taiwan excluded) in 2010, with an added capacity of 18,927.99MW, up 37.1% year on year; 34,485 were installed, with a total capacity of 44,733.29MW, up 73.3% year on year.

Company Country Market share (pct) : 1) Vestas Denmark 12%, 2) Sinovel China 11%, 3) GE United States 10%, 4) Goldwind, China 10%, 5) Enercon, Germany 7%, 6) Gamesa, Spain, 7%; 7) Dongfang (DEC), China 7%, 8) Suzlon, India 6%, 9) Siemens, Germany 5% 10) United Power, China 4%, 11) Mingyang, China 3%, 12) REpower, Germany 2 %, 13) Sewind, China 2%, 14) Nordex, Germany, 2%, 15) XEMC, China, 1%, Others, 12%.

With the introduction of 5 MW, 6 MW and more powerful wind turbines, Sinovel will step up efforts to explore the overseas market while committing itself to the development of China’s wind power industry, and its overseas operation is expected to be decisive by 2015.