ASX Renewable Energy Stocks: Global wind industry posts another record year of almost 100 Gigawatts
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The energy transition has a lot more to do than just solar.
A new report by BloombergNEF has highlighted the global commissioning of wind turbines reached 99.2GW in 2021, inching closer to a 100-gigawatt year and edging past the 98.5 gigawatts commissioned the previous year.
BNEF’s 2021 Global Wind Turbine Market Shares report finds that while most of the wind power was added on land (83%), additions of new offshore turbines rose to 16.8 gigawatts – a 161% increase compared with 2020.
“A new era of wind build is truly under way – a second near-100-gigawatt year represents a new status-quo for the industry,” said Isabelle Edwards, senior analyst at BloombergNEF and lead author of the report.
“As governments worldwide set net-zero ambitions targeting wind build several multiples higher than today, the wind industry has proved it can deliver sustained growth.”
These latest figures draw on BNEF’s global database of wind projects and extensive information from the industry.
Danish wind turbine manufacturer, Vestas, regained its spot at the top of the ranking adding 15.2 gigawatts worldwide, a 3.2-gigawatt lead on its nearest competitor, Goldwind, which was in second place with 12 gigawatts.
Siemens Gamesa took the third spot in the ranking and General Electric, the previous year’s leading turbine maker, fell to fifth place as installations dropped 22% in its home market the U.S.
Meanwhile, China dominated the offshore wind market as the wind industry, yet again, showed what it can do when subsidies are on the line, BloombergNEF head of wind research Oliver Metcalfe said.
“As offshore installations drop off in China in 2022, other markets are set to fill the gap,” he said.
“The U.K. will add more than three gigawatts of offshore wind for the first time this year, while activity will also pick up in new market Taiwan.”
The U.S. remains the second largest market for new wind build, adding 13 gigawatts in 2021.
Together with China, the two countries accounted for two-thirds of new global wind capacity last year.
Vietnam broke into the top three global wind markets for the first time, bringing online 3.6 gigawatts of onshore and near-shore wind farms.
“Policy continues to play a major role in driving the global wind market, as developers chase feed-in tariffs where they’re still on offer,” said Edwards. “
We saw an onshore wind boom in China and the U.S. in 2020, while last year the focus shifted to China’s offshore market and Vietnam.”
The company behind the Zero Carbon Lithium Project in the Upper Rhine Valley, Germany – Vulcan Energy (ASX:VUL) has appointed a new non-executive director – Günter Hilken.
Hilken has more than 35 years’ experience in the German chemicals, renewables, and infrastructure investment sectors, VUL says, and will help Vulcan ensure that geothermal energy becomes a foundation of Germany’s supply of sustainable and secure renewable energy as the country diversifies away from local carbon-based energy sources and Russian energy.
Vulcan chairman Gavin Rezos said the company is “very fortunate” to obtain Hilken’s skills and deep connections within German industry, government, and the renewable power sector.
“These skills will be invaluable to the board and in Vulcan’s drive for German geothermal energy to replace Russian gas used in heating,” he said.
Traffic Technologies (ASX:TTI) has been awarded an initial order for $1.3mn for the supply of the “latest and most advanced smart streetlights”, forming part of a major upgrade announced by Ausgrid and Southern Sydney Regional Organisation of Councils and up to 33 local councils.
Over the next three years, the partnership deal could see more than 92,000 streetlights on main roads upgraded with energy efficient LEDs and smart controls.
“Not only will this provide major energy savings, but the addition of smart controls will also help detect faults, optimise maintenance, measure energy use and facilitate off-peak dimming in the future,” a statement released this morning said.
“Councils can expect savings of 56% annually, with total reductions in greenhouse gas emissions of more than 34,000 tCO2-e per year from this project, significantly contributing towards Australia’s net zero target.”
Ausgrid is on a mission to reduce its environmental footprint having already upgraded 130,000 residential streetlights to LEDs, with another 20,000 set for completion in the next few months.