China’s Wind Power Firms Are Advancing in Europe – For Now

Quick Summary:

Chinese turbine manufacturers are rapidly expanding in Europe, but it’s a race against the clock as tariffs loom.

In 2022, Mingyang supplied turbines for a 30 MW offshore project in Italy – the first European offshore wind farm powered by turbines from a Chinese manufacturer.

Between 2018 and 2022, EU companies’ share in the global wind turbine market fell from 55 percent to 42 percent, with China capturing virtually all of that market share.2023 was another hard year for Western OEMs, with companies across Europe and the U.S.suffering financial losses.

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Article Details

Author / Journalist: Chris Hankin

Category: Economy

Markets: United StatesBangladeshBelarusChinaHong KongIndiaItalyJapanNorth KoreaSouth KoreaPakistan

Topics: Oems Chinese Mingyang European Energy Percent Wind Tariffs 2023 Turbine Turbines

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-22 @ 23:29:00 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: thediplomat.com

Language: English

Article Length: 2143 words

Reading Time: 12 minutes read

Sentences: 90 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Diplomat

News ID: 21732051

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