Recharge:

The global wind industry will add more than 626GW of new capacity — representing more than $1trn of investment — over the 2019-28 period, according to a new report from Navigant Research.

This represents more than a doubling of the 591.1GW of wind installed around the world at the end of 2018, adding up to a total of more than 1,217GW (1.2TW).

This tenfold growth in “wind capacity value” will be “led by countries in Asia-Pacific and non-traditional markets in Europe, Latin America, and the Middle East & Africa,” said Jesse Broehl, senior research analyst with Navigant Research.

The global offshore market will experience a 16% compound annual growth rate over the period, with China, Taiwan and Europe being the leading markets, according to the Global Wind Energy Overview report.

The study says that 51.4GW of wind was installed globally in 2018, down from the 52.9GW recorded in 2017. The Global Wind Energy Council put the 2018 figure at 51.3GW.

“This growth is flat but behind these top-line figures resides profound shifts throughout global wind power markets and promising outlooks on the future of the industry throughout most global markets,” says the report.

[Leigh Collins]

More: Global wind capacity to more than double to 1.2TW by 2028: report