Friday, 10 June 2016
Moody's expects COP21 agreement to propel wind power installations in India, Brazil and, Africa
KOLKATA: Moody's predicts new wind power equipment growth over the next five years to come from emerging markets like India, Brazil and Africa as momentum for wind turbine sales have been shifting from mature markets in Europe and the US to emerging markets. In 2015, installed capacity of wind turbines in China reached 145.3 GW, surpassing for the first time European Union's capacity of 141.6 GW. In 2015 all emerging markets combined, accounted for 62% of newequipment orders .The 21st session of the U.N. Framework Convention on Climate Change Conference of the Parties' (COP 21) calls for increased investments to meet a targeted reduction in CO2 emissions will support sales for wind turbine manufacturers. COP 21, together with the need for clean energy, should support growth in these markets said Moody's in a statement on Thursday. Moody's expects this trend to continue, as decreasing subsidy schemes and a scarcity of good onshore positions in developed markets will result in slowing demand from Europe and North America. Slowing extension of large scale transmission lines is also expected to result in slower demand. The European market, as a result, is likely to experience a contraction of about 5%-10% of sales in 2017-18. Increased investment, particularly in emerging markets, directed towards renewable energies such as wind and solar energy is likely to increase sales of major wind turbine manufacturers such as Siemens Aktiengesellschaft, General Electric Company, Vestas, Gamesa, Goldwind, and Senvion TopCo GmbH over the next five to 10 years.
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