Business / Companies

China's Goldwind takes over as world's leading wind-turbine maker

By Chris Peterson ( Updated: 2016-02-24 17:03

Xinjiang Goldwind Science and Technology Corp, a Hong Kong-listed Chinese wind-turbine maker, is now the world's biggest, knocking European and US manufacturers off the top spot for the first time, the Financial Times reported, citing a business survey.

Goldwind installed 7.8 gigawatts of capacity last year, with Vestas of Denmark in second place with 7.3 gigawatts and US giant General Electric third with 5.9 gigawatts.

In 2015 China reached an installed cumulative capacity of 145 gigawatts, overtaking the European Union which had 141.6 gigawatts, the newspaper said, citing data from the Global Wind Energy Council.

FTI Consulting, a business advisory group, said Goldwind's success was based in part through its dominance of the Chinese domestic market, where it supplies more than a quarter of new turbines.

Chinese success has spurred consolidation in the wind turbine industry, with Siemens of Germany, the fourth largest producer, in talks to acquire Gamesa, a Spanish manufacturer; that would create the world's biggest wind turbine maker by market share, the Financial Times said.

Wind power now accounts for 44 percent of all new electricity generation in the European Union, the FT reported.

Goldwind is now planning to install its turbines in the US, Chile, Ecuador, Pakistan and Ethiopia, the newspaper said.

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