Wind to 'grow 300GW in five years

Over 300GW of new wind capacity will be added in the next five years, according to a new report from the Global Wind Energy Council. The 14th 'Global Wind Report' said offshore wind development will continue to accelerate with 40GW installed over the period, accounting for 15% of new projects each year. Emerging markets for wind power will include Indonesia, Philippines, Thailand, Vietnam, Argentina, Colombia and Peru. Some 51.3GW of new capacity was added in 2018, the report said. Governmental support, in the form of auction and tender programmes and renewable targets, will continue to be a significant driver for new installations, it added. Opportunities for wind energy to operate on a commercial basis are increasing as the industry continues to prove its cost-competitiveness and bilateral agreements, such as corporate power purchase agreements, grow, GWEC said.

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