300 GW of new wind power capacity in the pipeline for 2023

The Global Wind Energy Council (GWEC) has published the 14th edition of the Global Wind Report, which confirmed that in 2018 there was 51.3GW of new installations.

Market-based mechanisms, such as auctions, tenders and Green Certificates were the main drivers behind new installations in 2018.

GWEC expects strong growth in the coming period, with around 300GW of new capacity to be added in the next five years, as the wind industry continues to prove its cost-competitiveness in relation to incumbent fossil fuel generation and nuclear around the world. Read more: 300MW wind farm on the cards for Tanzania

Karin Ohlenforst, director of market intelligence at GWEC, said: “2018 was a good year for the global wind industry, with installations remaining above 50GW. The dominance of onshore wind power is not surprising given continued and growing investment, with market-based mechanisms like auctions, tenders and Green Certificates being the main drivers of new onshore installations, accounting for 35% of total installations. 2018 was also a pivotal year for the offshore industry, particularly in Asia. If governments remain committed, offshore wind will become a truly global market in the next five years.”

Ben Backwell, CEO of GWEC, added: “We have changed the way we gather, analyse and share data. This year’s Global Wind Report is built on our new and improved Market Intelligence function that offers unmatched exclusive data and insights. We are growing our team and are more dedicated than ever to steering the industry and supporting our members into new and exciting opportunities for wind energy.”