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1、GLOBAL WIND ENERGY COUNCILGWEC|GLOBAL WIND REPORT 2025GWEC.NETGlobal Wind Energy CouncilThe Unicorn FactoryAv.Infante D.Henrique 143 S09Lisbon.PData Lead Feng Zhao,Chief Research Officer Contributors and EditorsBen Backwell,Emerson Clarke,Reshmi Ladwa,Stewart Mullin,Francis Jayasurya,Mark Hutchinson

2、,Liming Qiao,Rebecca Williams,Weng Han,Wanliang Liang,Esther Fang,Ann Margret Francisco,Martand Shardul,Jeanette Gitobu,Janice Cheong,Wangari Muchiri,Ramon Fiestas,Heba Rabie,Kshitij Madan,Nadia Weekes,Jasmine Cargill,Erik Lu,Juan Tomas Sanchez,Nina Melkonyan,Joo Esteves,Benoit Moreaux.Additional Co

3、ntributionsAsociacin Mexicana de Energa Elica(AMDEE),SER Colombia Asociacin Energas Renovables,Associao Brasileira de Energia Elica e Novas Tecnologias(ABEElica),Camara Elica Argentina,Asociacin Peruana de Energas Renovables(SPR),Asociacin Chilena de Energas Renovables y Almacenamiento(ACERA),Japan

4、Wind Power Association(JWPA),Korea Wind Energy Industry Association(KWEIA),China Wind Energy Association(CWEA),Thailand Wind Energy Association(ThaiWEA),Mongolian Renewable Energy Association,Iran Renewable Energy Association(IRWEA),Electricity Sector Association of Kenya(ESAK),South African Wind En

5、ergy Association(SAWEA),Clean Energy Council-Australia,American Clean Power(ACP),Canadian Renewable Energy Association(CanREA),WindEurope.We received valuable review and commentary for this report from:Pavel Miller(SSE)Wadia Fruergaard(Vestas)Mathilde Huismans(IEA)Front cover Image courtesy of Vesta

6、sPublished23 April 2025Designlemonboxwww.lemonbox.co.ukGLOBAL WIND ENERGY COUNCILAssociate SponsorsPodcast SponsorLeading SponsorSupporting SponsorRegional Lead SponsorForewords 2Executive Summary:The Data and the Story Wind in 2024 4Introduction-Getting Wind Energy Back to Accelerated Growth 8Part

7、One:Trends to Watch 1 1 Finance and macroeconomic headwinds 12 Trade barriers and fragmentation 14 Negative prices 16 Factors affecting supply chain development 18The challenges facing wind energy 20 Auctions 20 Grid 23 Social acceptance and disinformation 26 Local content requirements and tariffs 2

8、9 Race to new turbine platforms 32Part Two:Solutions to build the next TW 35 Scale,demand and investment de-risking 36 Standardisation:Increasing competitiveness through manufacturing excellence 39 Enhancing trade and global collaboration to achieve scale and efficiency 43 Winning support,building p

9、olitical support and combatting disinformation 45Part Three:Markets to Watch 47 Africa:South Africa 48 APAC:China,Australia,India,Singapore,Philippines,South Korea 50 Central Asia:Uzbekistan,Kazakhstan,Azerbaijan 65 Europe:Germany,UK 67 MENA:KSA 70 Americas:Brazil 72Part Four:Market Status 74Part Fi

10、ve:Market Outlook 2025-2029 86Appendix 97Global Wind Report 2025 Methodology and Terminology 98About GWEC Market Intelligence 99GWEC Global Leaders 101Women in Wind 103Sponsors and contacts 105Table of contentsGWEC|GLOBAL WIND REPORT 2025 1GWEC.NET 2ForewordIt might be fair to say that many people i

11、n the wind industry will not look back on 2024 too fondly.It was a year in which the impact of interest rate increases,inflation,supply chain pressures,investor confidence,regulatory inertia and political uncertainty all had a relevant impact across many key markets.However,perhaps 2024 can be put i

12、nto some perspective.After all,it was only one year in the long life of the Energy Transition,a 50-year programme to decarbonise our planet and safeguard its future.For the preceding 20 years,wind energy had enjoyed a prolonged period of growth,achieving the historic milestone of 1TW of installed ca

13、pacity in 2023 and growing into a major economic and industrial movement with over$200 billion of private capital being invested annually and over 1.5 million direct jobs being supported globally according to IRENA reporting.2023 was also a record year for wind installations,with 116.6GW being insta

14、lled globally(albeit heavily concentrated in a few markets).With this in mind,despite so many headwinds,GWEC reports another record year with 117 GW of wind energy installed globally.It is also noteworthy that in 2024,90%of all expansion in the power sector was in renewables,with 20%of that growth c

15、oming from wind energy.However,if you look behind the headline numbers,four factors stand out:1.We are not going fast enough the rate of installation of wind energy needs to continuously increase,not hold steady or decrease,if we are to hit the important 2030 tripling up target,and modernise societi

16、es through electrification2.We are still too concentrated in too few regions(86%of installations occurred in China,Europe and US).3.Whilst Onshore wind continues to progress(growing from 105GW in 2023 to 109GW in 2024),Offshore Wind has not progressed as well(from 11GW to 8GW).4.The underlying trend

17、s that have been undermining growth and confidence are stubbornly persisting.On this basis,perhaps the key takeaways from the 2024 should be:l We need to keep pushing to go faster in order to hit our important tripling up targets by 2030.l Regulatory reform remains an urgent area of focus,in order t

18、o facilitate faster deployment and capital recycling to facilitate further growth,especially in nascent markets.l Open and fair trade alongside healthy supply chains must be promoted.l We should not lose sight of the long-term value and mission of wind energy,regardless of short-term political messa

19、ging.We must remain steadfast in fostering policymaking that is based on scientific and economic data and not on subjective opinion or disinformation.l We must make more effort to sell the benefits of our sector to all aspects of the political spectrum,so that we can become less politically sensitiv

20、e and can be seen as the force for good that we know ourselves to be.Over the course of 2025,GWEC will be promoting a number of initiatives that address these key issues.Despite a difficult 2024,we expect 2025 to be another record year for wind installations and we are determined to play our part in

21、 helping wind energy through the current challenging environment.We look forward to working with colleagues across the industry in helping wind energy fulfil its vitally important potential.Time to focus on the long-term value and mission of wind energyJonathan Cole Chair of Global Wind Energy Counc

22、ilGWEC|GLOBAL WIND REPORT 2025 3As we enter a new era in renewable energy,the Global Wind Report 2025 serves as a beacon of hope and a call to action for the global community.The journey of wind energy has been nothing short of remarkable,evolving from a niche technology to a mainstream source of po

23、wer that is now integral to our energy transition efforts.The year 2024 marked yet another milestone with 117 GW of new installations worldwide,bringing the global cumulative capacity to 1136 GW.This report not only highlights the impressive growth of wind energy but also underscores the immense pot

24、ential that lies ahead.With the right conditions in place,the wind industry stands ready to triple its growth to meet the ambitious COP28 goal of tripling renewable energy capacity by 2030.Our collective efforts have demonstrated that wind energy is not just a viable alternative but a necessary comp

25、onent of a sustainable future.China,United States,India and Germany top the charts while the Asia-Pacific region continues to lead the way.Emerging markets in regions such as Southeast Asia,Central Asia,and MENA are poised to become the next strongholds of wind energy growth.However,the path to acce

26、lerated growth is fraught with challenges.Macroeconomic pressures,trade barriers,and supply chain disruptions threaten to derail our progress.It is imperative that we address these barriers head-on and implement solutions that will enable us to achieve the scale and efficiency required to meet our c

27、limate goals.The Global Wind Report 2025 provides a comprehensive roadmap for overcoming these challenges.It emphasizes the need for enhanced international collaboration,streamlined permitting processes,and robust policy frameworks that support the rapid deployment of wind energy.By working together

28、,we can turn targets into turbines and ensure that wind energy continues to play a pivotal role in the global energy transition.As Vice-Chairman of GWEC,I am proud of the progress we have made and optimistic about the future.The wind industry has shown resilience and adaptability in the face of adve

29、rsity,and I am confident that we will continue to rise to the occasion.Let us harness the power of the wind to create a cleaner,greener,and more sustainable world for future generations.A Tailwind of Progress,Navigating the Currents of ChangeForewordGirish TantiVice Chairman,Suzlon GroupEXECUTIVE SU

30、MMARYGWEC|GLOBAL WIND REPORT 2025 5Executive Summary2024 marked yet another record year for wind energy with 117 GW of new installations worldwide.Looking beyond the marginal increase from last year,this report tells the story of an industry increasingly pushing into new regions,the emergence of new

31、 wind power strongholds and a technology capitalising on the growing demand for a secure supply of clean electricity in an increasingly volatile world.This years Global Wind Report focuses attention on the moment wind energy currently finds itself a maturing technology delivering value to government

32、s,economies and people.The report recognises wind energys broader value proposition,addresses the challenges holding the technology back,and the solutions needed to get back on to an accelerated growth trajectory so the industry can deliver its full potential.Last years growth brings wind energys gl

33、obal cumulative capacity to 1,136GW,spread across all continents,with new countries choosing to build wind energy every year.This years report goes beyond installation data to capture the wave of growth expected from countries that have recently passed legislation,implemented policies and integrated

34、 wind energy into long term energy system planning.A geographic breakdown of 2024 shows new wind energy was largely concentrated in the same top five markets as previous years-China,US,Brazil,India and Germany.Rising stars such as Uzbekistan,Egypt and Saudi Arabia had strong performances in 2024,rep

35、resenting the next wave of wind energy growth across an increasingly wider set of geographies,and served to counterbalance lower numbers in Brazil and the US.The Asia-Pacific region continues to lead the way with Chinas installations making up 70%of the global total.Meanwhile,Africa&the Middle East

36、had a record year,doubling onshore wind additions in 2024.Our Markets to Watch section covers a range of maturing markets consolidating growth such as India,Germany and the UK,and important new regions poised to become wind power strongholds such as South Africa,North Africa,Southeast Asia and Centr

37、al Asia.Looking into wind energys promising future,GWEC Market Intelligence expects new installations to surpass the previous record and reach 139 GW in 2025.981 GW of new capacity is likely to be added till 2030 under current policies.This equals 164 GW of new installations each year until 2030,rep

38、resenting a projected compound annual growth rate(CAGR)for the 20252030 period of 8.8%.Growth in emerging markets in the regions of Southeast Asia,Central Asia and MENA is expected to gain momentum,with record installations expected every year in 20252030.Promising future growth prospects aside,the

39、global wind industry is prepared to build much more right now,and quickly.With the right conditions in place,the wind industry stands ready to triple growth to the 320GW necessary to reach the COP28 goal to triple renewable energy capacity by 2030,as a crucial climate change mitigation measure.With

40、this level of ambition as the benchmark,the 2025 Global Wind Report focuses on the barriers to accelerated wind energy growth and the solutions required to remove them.A Collective Call to Action from the Wind IndustryThis years report sends a clear message and call to action wind energy needs to ge

41、t back on to an accelerated growth trajectory.This is necessary for the energy transition to stay on track,for climate goals to be met,and to secure a prosperous future for wind as a globally dominant energy technology able to deliver its full value.Part One of the report covers key evolving trends

42、and the challenges impacting wind energy growth.Global trends such as macroeconomic headwinds and trade barriers,and how they are interacting with wind energy are examined.Following these trends,the report dives into the challenges currently being faced by the global wind industry.Finance and macroe

43、conomic headwinds continue to challenge accelerated wind energy growth.Rises in commodity prices,in combination with rises in the cost of labour,logistics and higher costs of capital due to interest rates and risk premiums are all affecting project economics,resulting in projects stalling(especially

44、 on offshore)and undersubscribed The Data and the Story Wind in 2024Ben BackwellCEO,Global Wind Energy CouncilGWEC.NET 6Strapauctions.In emerging and developing economies,cost of capital remains relatively high based on risk perception despite strong investor appetite.Trade barriers and fragmentatio

45、n presents an increasing risk to wind energys ability to accelerate growth through the efficiencies of a global,interconnected supply chain.The spread of protectionist policies,from tariffs to local content requirements,is gradually fragmenting the global trade regime with real consequences for the

46、wind industry if trade-friendly industrial development policies are not followed.Negative prices have emerged as a trend affecting how electricity markets remunerate renewable energy generation.Outdated market design,system constraints,lack of demand growth in some market,and technology imbalances a

47、re leading to a high degree of power price cannibalisation.Meanwhile,the excess of renewables in low-demand periods has created increasing periods of negative electricity prices.If this trend is allowed to increase over time,it has the potential to undermine the financial stability of renewable ener

48、gy projects and discourage further investment.A combination of grid reinforcements,flexibility solutions,electrification and market design reforms are needed to reverse this trend.The final trend,factors affecting supply chain development,is broken down into key factors and how they have contributed

49、 to a misalignment between the current supply chain footprint and the technologys accelerated growth trajectory.Lack of market volume and power price volatility,the rapid innovation curse of ever-increasing turbine sizes and a political push for inflexible local content rules and other protectionist

50、 measures adding further uncertainty and additional costs are identified as contributing factors to this overall trend.Moving on from these wider trends,the report delves into the specific challenges the wind industry is currently grappling with.Auction mechanisms need to undergo reforms to reflect

51、new market realities.Ensuring robust,flexible auction designs that accommodate evolving economic realities,safeguard project viability,and discourage speculative bidding will be critical to the long-term success of wind energy deployment.A more disciplined approachwhere industry and governments work

52、 together to get risk-sharing right,setting achievable long-term revenue frameworks and support to de-risk projectsis essential for sustainable industry growth.Grid infrastructure poses a set of challenges,requiring expansion and modernisation,streamlining of permitting and regulatory processes,cong

53、estion and curtailment mitigation,flexibility and a robust supply chain.Investment in grids must ramp up to alleviate significant queues to access grid connections around the world,ultimately causing governments to miss targets.Social acceptance,increasingly fuelled by disinformation has become an i

54、mportant challenge to accelerated wind growth.The industry is seeing orchestrated disinformation campaigns financed by fossil fuel interest groups.The spread of false narratives about wind energy is exacerbating the persistent and multi-faceted issue of permitting bottlenecks,influencing policy deci

55、sions and eroding public trust in renewable energy solutions.Mandatory and inflexible local content requirements(LCRs)are being utilised by governments in the context of wider national industrial strategies and protectionist policies.While LCRs can be used to stimulate industrial development and job

56、 creation in emerging markets,where utilized inflexibly they can also hinder investment and growth by restricting supplier options in countries which do not have a sufficiently developed supply chain,driving up costs and harming the very local industries they aim to boost.The global race to new larg

57、er turbine platforms has turned into a GWEC|GLOBAL WIND REPORT 2025 7Strapchallenge itself for the wind industry to navigate.This trend has intensified cost pressures and raised quality concerns for OEMs,who are struggling to invest in larger and large turbine models before the current ones are amor

58、tised.Solutions Part two of the report puts forward solutions to be actioned by the wind industry and its partners across government,business and civil society,with a view to building the next terawatt on an accelerated growth trajectory.Solutions to achieving scale,meeting demand and de-risking inv

59、estment are addressed at the outset.Policy and regulatory measures designed to take advantage of increasing electrification,financial incentives such as subsidies,tax credits and other funding programs,infrastructure developments such as grid modernisation and electric vehicles charging networks and

60、 grid modernisation,are posited.Industrialisation is an essential solution for the wind industrys long-term competitiveness and profitability.This section puts forward three critical pillars for successful industrialisation with a focus on efficiency product strategy focusing modular designs and com

61、ponent standardisation,process strategy that reduces variability across manufacturing sites,and production strategy to optimise through automation.Addressing issues related to free,fair and open trade requires intensified efforts to design trade-friendly green industrial policies that enhance compet

62、itiveness,drive innovation,and ensure secure,affordable energy while fostering economic growth.Coordination and dialogue between governments must triumph over fragmentation and competition for strategic investments,with global leaders leveraging multilateral institutions,bilateral engagements and re

63、gional forums to coordinate trade-friendly green industrial policies.Finally,solutions to winning political support and combatting disinformation are addressed in a section focused on proactively engaging communities and shifting public narratives in favour of wind energy.Tactics such as pre-bunking

64、 mis-and disinformation through community-driven messaging are put forward,coupled with policy recommendations on local ownership models and benefit-sharing schemes.In the months leading up to the publication of this report we have seen significant progress in terms of government policies designed t

65、o drive wind energy growth across the world.This progress on policy and regulation,alongside a concerted effort from the wind industry and its partners to action the agenda outlined in this report,will make a significant contribution to getting wind energy back on to an accelerated growth trajectory

66、.8INTRODUCTION-GETTING WIND ENERGY BACK TO ACCELERATED GROWTH GWEC|GLOBAL WIND REPORT 2025IntroductionWind energy is at a critical moment in its history where the actions and measures taken today by the industry,policymakers,and other partners across business and civil society will have a significan

67、t impact on the technologys future growth trajectory.Record growth years are forecast for the foreseeable future,so the real question is how accelerated this growth will be,and how much value wind energy will be allowed to deliver to economies and people if barriers are removed.Over the past four de

68、cades,wind power has evolved from a niche technology into a mainstream source of energy and a key pillar of the energy transition.It has proven its economic viability,becoming one of the most cost-competitive sources of energy globally.Where scale has been achieved,wind energy has lowered consumer p

69、ower prices,created jobs and regenerated communities.Moreover,wind has a strong role to play in increasing a nations resilience by reducing reliance on volatile and insecure fossil fuel imports.Looking at the global energy landscape,there is a clear and encouraging meta trend taking the world over e

70、lectrification,or as the IEA recently termed it,“The Age of Electricity”.Wind energys role in this trend,changing energy systems around the world is clear,but it is up to us as an industry to step up to fully seize this opportunity.As it stands,wind and solar are already providing the bulk of new po

71、wer coming online,although solar is deploying at a much faster rate.It is imperative that wind energy gets back to accelerated growth,for the energy transition to proceed in an orderly and balanced way,and so modern energy systems can benefit from their complementarity.Across the world today,wind en

72、ergy is helping economies grow.Countries harnessing their wind energy resources are benefitting from the stability of energy independence and security of supply to address vulnerabilities to geopolitical risks such as conflicts and trade wars.Large-scale,long-term investment in wind energy is contri

73、buting to local industrial growth,from the establishment of supply chain elements to the provision of affordable electricity for local businesses and consumers.In the UK in 2022 due to increased wind and renewable energy generation displacing 6.1 billion of gas,this led to a saving of around 221 per

74、 household.1 Wind energy growth is also meaningfully benefiting societies across the world,through the creation of direct jobs now at 1.5 million and counting worldwide and cleaner air through the reduction of carbon emissions as fossil fuel generation is replaced.But we could be delivering much mor

75、e with scale.This years report provides a pathway to getting there,with the goal of achieving 320GW per year needed to reach the COP28 goal to triple renewable energy capacity by 2030,as our north star.Over the last few years,we have begun to see trends that threaten to derail the momentum that has

76、been carefully built over decades.Macroeconomic pressures and rising commodity and capital costs have collided to make our technology more costly.On a national level,the uncertainty related to stop-start,inconsistent government procurement cycles has made long term supply chain investment difficult.

77、In addition,the increasing fragmentation of global trade and implementation of protectionist policies is undermining the competitiveness of our globalised industry.Outdated market design bakes in distortions,which affect our business case.These trends constricting our industrys pace of growth need c

78、ourse corrections.While the direction of some of these trends is outside the industrys control,this report identifies the key challenges that the industry and its partners can address.The focus right now,as outlined in this report,must be on getting wind back to accelerated growth by securing future

79、 demand and consolidating our position as a mainstream energy generation technology.Collectively,as Introduction 91.Energy UK briefing:Net Zero solution to the gas crisis-Energy UKGWEC.NET 10a global industry,and with our partners across government,business and civil society,addressing the challenge

80、s with the solutions proposed in the pages that follow is of paramount importance this is our call to action.The wind industrys relationship with governments around the world continues to strengthen,but there is still much work to be done to reduce complexity and streamline planning to deliver on ta

81、rgets and allow investment to flow at scale.Moreover,we are already seeing the damaging effects of trade tariffs to the global economy,highlighting the need for a globally interconnected industry safeguarding its competitive edge.As an industry,we will continue to improve how we work together on man

82、ufacturing excellence and standardisation,how we work with governments on energy,industrial and trade policy,how we work with regulators and energy system planners to ensure grid and other infrastructure stays in lock-step with generation build-out,and how we work with communities by building trust

83、and delivering fit-for purpose benefits.There is a lot to be confident about when looking at the future of our technology and the opportunity in front of us.Despite the concerted effort from certain actors to undermine the case for wind energy,steady progress continues to be made.As the report shows

84、,many countries around the world are doubling down on wind energy today-by increasing the volume of procurement rounds,passing legislations,and developing policies to prepare the ground for wind energy to play a bigger role.2024 saw the UK enact a series of reforms aimed at delivering its ambitions

85、for up to 50 GW of offshore wind and around 30 GW of onshore wind by 2030 as part of the Prime Ministers wider Clean Energy Mission.Germany awarded nearly 11 GW of new onshore wind capacity in tenders an all-time high representing a remarkable 70%increase year-on-year in support of the countrys indu

86、strial base and energy security needs.The South African government recently published their seminal Integrated Resource Plan,where wind will ramp up yearly and become a cornerstone of the countrys energy mix over the next decade.The Brazilian governments recently passed legislation on offshore wind,

87、green hydrogen and new industrialisation,will serve to create new opportunities in a country already considered a wind energy leader.Important policy advances were also recently made in the Asia-Pacific region as Japan,South Korea,Philippines and Australia progress their wind energy markets.And fina

88、lly,Central Asia is emerging as the next region to harness its wind energy potential with large scale developments underway in Kazakhstan,Uzbekistan and Azerbaijan.The global wind industrys confidence stems from the fact that we win where there is a level playing field.With the right long-term polic

89、y and regulatory conditions in place,we have seen investment flow,long term project pipelines develop,factories built,and jobs created.We are an industry that has seen ups and downs and always emerged more resilient on the other end.We are an industry whose fundamental value proposition continues to

90、 strengthen as more governments and industries choose to power themselves with wind energy.And above all,we are an industry with a strong self-awareness and belief that we can and will get back on to an accelerated growth pathway.Our message from the wind industry to any governments currently back t

91、racking on their commitments to wind and renewable energy is that this will eventually negatively impact your constituents in the long run.The wind industry looks forward to the journey ahead,deepening its relationships with partners across governments,business and civil society under the common goa

92、l of getting wind back to accelerated growth so we can deliver full value to economies,people and the planet.GWEC|GLOBAL WIND REPORT 2025 11StrapPART ONE:TRENDS TO WATCH GWEC.NET 12Part One:Trends to Watch Wind farms demand substantial upfront investments that render project economics sensitive to t

93、he cost of capital.The steep rise in the cost of capital in recent years has been compounded by fluctuations in interest rates and inflation,as well as high commodity and raw material prices.However,the high upfront costs associated with constructing a wind project generally offset by lower operatin

94、g expenses than fossil fuel plants along with the absence of fuel costs.Geopolitical tensions are likely to intensify existing disruptions in global supply chains and contribute to further market volatility.A particularly complex financial landscape exists for offshore wind projects,with project via

95、bility hinging on market realities and balancing risk with investor expectations.The weighted average cost of capital is determined by the interest rates required by lenders and the return required by equity investors.Investment decisions are shaped by how much debt financiers are willing to extend

96、based on the projects assessed risk profile and market conditions.Similarly,the target return on equity is determined by the developers assessment of risk,and impacted by the electricity prices the market can sustain via a specific remuneration mechanism.Utility-scale wind projects rely heavily on d

97、ebt financing through limited or non-recourse project finance,typically covering 60-70%2 of a projects capital structure.The cost of debt is heavily influenced by macroeconomic conditions such as prevailing interest rates,as well as real and perceived project and country risks,which affect the risk

98、premiums that banks may apply.While 2024 witnessed a decline in inflation and interest rates from their recent peaks,both metrics remain higher than the historically low-interest rate environment experienced globally since 20083.The Secured Overnight Financing Rate(SOFR)surged to over 5%in H1 of 202

99、3 following the US Federal Reserves aggressive rate hikes,before easing slightly last year.Despite recent declines,SOFR remains higher than pre-2022 levels,resulting in high borrowing costs.Due to their high upfront capital costs,interest rates have a more significant effect on the levelised cost of

100、 electricity for wind than for non-renewable energy sources.This is because a large percentage of the cost of fossil plants is the fuel cost incurred over many years4.Inflation rates,which typically precede higher interest rates,peaked around 2022 following after several global demand and supply sho

101、cks and imbalances.However,they have since stabilised as a result of monetary policies implemented by central banks.The cost of materials,labour and logistics has increased due to strong demand and constrained supply post-COVID19.Additionally,the global economic fallout from the Russia-Ukraine war h

102、as raised overall project capital expenditures(Capex)for most developers globally.The rising costs of raw materials and components required for turbine production have increased both the manufacturing and upkeep costs that original equipment manufacturers(OEMs)need to bear.These price increases,in t

103、urn,have put additional pressure on developers who are already operating with narrow profit margins and constrained by wider project economics5.Finance and macroeconomic headwinds2.https:/ 3.https:/www.ief.org/news/higher-interest-rates-pose-a-challenge-to-financing-renewables4.https:/www.iea.org/ar

104、ticles/what-is-the-impact-of-increasing-commodity-and-energy-prices-on-solar-pv-wind-and-biofuels5.https:/ WIND REPORT 2025 13Part One:Trends to Watch Over 2023 and 2024,several offshore wind projects in the US and Europe defaulted due to unhedged costs and revenue-support schemes that were not adap

105、ted promptly to external market conditions.A flurry of offtake deal renegotiations put projects at risk of further delays6.The auction designs of the markets that suffered the most typically displayed a lack of capital allowances and appropriate revenue stabilisation measures,did not adequately shar

106、e risk sharing between offtakers and developers,and resulted in bids that in hindsight were probably overly aggressive.The lingering effects of a race-to-the-bottom mindset resulted in undersubscribed auctions where developers chose not to bid given the expected project economics.While measures to c

107、ontrol inflation and supportive policies such as the US Inflation Reduction Act and REPowerEU Plan were introduced,their continued implementation will ultimately depend on the political agenda and priorities of the ruling government administrations.Risks differ significantly across countries and tec

108、hnologies,influencing how the financing of a project is structured.Some risks are easier to quantify,such as projected cash flow to service expected debt.Other risks are not easy to quantify,such as whether a government will default.Risk premiums are typically applied as an additional cost to manage

109、 the risk.During worsened macroeconomic conditions,currency volatility and inflation rate uncertainty can result in a higher risk premium7.In emerging markets,where higher perceived risks include factors such as weak offtaker creditworthiness,political instability and lack of sufficient regulatory f

110、rameworks,securing affordable capital financing becomes even more challenging.The cost of debt remains high in emerging markets and developing economies(EMDEs),despite borrowing costs for emerging market firms tracking global interest rates more closely than they did in previous global financial cri

111、ses8.This could result in reduced overall investment in EMDEs,which need it the most,as investors naturally gravitate towards more stable markets with lower risk premiums.Consequently,emerging markets face significant barriers in attracting the necessary funding for critical projects,which further w

112、idens the gap in global investment distribution.For wind projects to succeed,the entire energy value chain including transmission,distribution and port infrastructure must be addressed.Persistent high capital costs may further strain financially limited utilities,transmission operators and governmen

113、ts,hindering their ability to invest in grid upgrades to match growing installed capacities.Similarly,since 2023,port operators have been under pressure to upgrade facilities to accommodate larger vessels to meet decarbonisation goals.At the same time they have faced declining demand due to the supp

114、ly chain crunch.9 Nevertheless,in this evolving landscape,the wind energy industry is providing energy security,showing signs of resilience and progress.By addressing macroeconomic challenges,enhancing risk-sharing mechanisms and advancing supportive policy frameworks,the sector is well-positioned t

115、o strengthen its growth trajectory.The wind industry had the record years in new installations in the past two years with annual installed wind capacity increased by 50%compared with 2022These improvements are tparticularly promising for emerging markets,where the need for investment is greatest and

116、 where robust policies can serve as a strong foundation for sustainable development.With financing conditions gradually stabilising,the global energy transition has a perfect opportunity to regain its momentum.The industrys adaptability along with the development of more effective policy frameworks,

117、signals a positive shift.6.https:/ Yeter,Yordan Garbatov,Feargal Brennan,Athanasios Kolios,Macroeconomic impact on the risk management of offshore wind farms,Ocean Engineering,Volume 284,20238.IFC,How Emerging Market Companies Are Withstanding Global Interest Rate Shifts,2024 9.https:/ 14Part One:Tr

118、ends to Watch The risk of politically driven disruptions to supply chains is becoming increasingly relevant in global supply operations.The spread of protectionist policies,from tariffs to local content requirements,is gradually fragmenting the global trade regime.As a result,the economies of the ke

119、y regions and hubs of the global economy are becoming increasingly disconnected from one another,even as intraregional economic integration deepens.Recent events,beginning with the creation of the most stringent tariff regime in recent U.S.history,have exacerbated and now threaten to accelerate this

120、 long-term trend,placing additional pressure on the stability of global wind power supply chains.These dependencies and vulnerabilities are especially severe in the production and development of new key technologies for the green transition.Because their production processes are highly complex,they

121、rely heavily on the efficiency of midstream processes,the availability of raw materials and the efficacy of logistical services that have been increasingly allocated in transnational supply chains.By controlling access to raw materials and positioning themselves at the forefront of key value chains

122、for renewable technologies,foreign firms have the potential to play a potentially destabilising role in the energy security of their trade partners.The urgency for a political response to such developments intensifies when a firms advantage in critical sectors is perceived to stem not from market-ba

123、sed factors but from government support mechanisms that enhance the competitiveness of domestic firms over their foreign counterparts.Beyond internal political drivers,the gradual fragmentation of supply chain links and trade relations is related to structural vulnerabilities embedded in the global

124、economy.In certain strategic sectors,including renewable energy technologies,the market concentration of key processes in specific regions,firms,or states can lead to threatening dependencies that endanger the market position and long-term viability of other businesses operating at different stages

125、of the supply chain.Once developments in the sector come to be perceived as the result of unfair practices,market-distorting policies spread across borders.This process escalated in the aftermath of the COVID-19 pandemic,which exposed to policymakers and the public in Western societies the economic

126、vulnerability embedded in global supply chains.The recent escalation of global trade tensions,driven by the new U.S.tariff regime,aligns with this broader trend,though it is further intensified by domestic political dynamics within the United States.The extent of disruption these developments may ca

127、use to the industry will largely depend on how government officials and regulators in the affected markets respond to emerging vulnerabilities and politically motivated restrictions on international trade.If their responses involve policy measures that diverge from the market-based principles underp

128、inning the efficient allocation of resources in global supply chains,the consequences could be increasingly detrimental.The consequent fragmentation of the global trade regime threatens to result in isolating regional or bilateral trade regimes with contrasting,and sometimes contradictory,legal,tech

129、nical and commercial standards in international economic transactions,both in terms of the exchange of goods and international investment.Consequences for the Wind Power IndustryIn the wind industry,the globalisation of supply chains for key components has not reached the levels of transnational int

130、egration seen in other highly globalised high-tech sectors such as replace smartphones with solar PV and electric vehicles.However,the existing vulnerabilities in the global value chains of wind power remain significant due to three main factors:l The component complexity of renewable energy technol

131、ogiesl The strategic nature of energy industriesl The scarcity and geographical concentration of some key raw materials and processes for their production.Consequently,the threat of trade fragmentation looms over the industrys ability to tackle the challenges of the coming decade.A dysfunctional tra

132、de system will imply significant risks for the industry in terms of both demand and supply.l On the supply side,trade fragmentation threatens to undermine the cost efficiency of cross-border operations,undermining the ability of firms in downstream sections of the supply chain to access the most eco

133、nomically efficient suppliers and service providers in the market.l On the demand side,the fragmentation of global trade and investment regimes will create market inefficiencies by restricting the ability of developers and manufacturers in trade-isolated regions to respond to each others demand for

134、wind power capacity expansion.Trade barriers and fragmentation GWEC|GLOBAL WIND REPORT 2025 15Part One:Trends to Watch Responding to these challenges will require policymakers to safeguard the principles underpinning an open,fair and rules-based global trade system.As supply chain risks become incre

135、asingly apparent in global operations,it is imperative to enact effective incentive-based policies for supply chain development at the local level.As shown in GWECs 2023 Mission Critical:Building the Global Wind Energy Supply Chain for a 1.5C World,which includes an analysis of future wind supply ch

136、ain outlooks based on different collaboration scenarios,only an open-door scenario with strong regional collaboration on both supply and demand will enable the industry to reach its 1.5C capacity targets.In this context In this sense,the international coordination of trade-friendly industrial develo

137、pment policies will play a crucial crucial supporting role in safeguarding the long-term expansion and profitability of the sector.GWEC.NET 16Part One:Trends to Watch The rapid deployment of renewable energy is exposing the inadequacies in electricity market design.The phenomenon garnering the most

138、attention is the increase in instances of negative power prices,which has emerged as a trend to watch for the wind industry,particularly in Europe.Negative power prices occur when the wholesale price of electricity falls below zero,meaning generators earn no revenue or may even pay to supply power t

139、o the grid.While this is not a new or unusual phenomenon,recent years have seen a drastic increase in negative power prices,during periods of correlated wind and or solar output,especially outside of peak demand periods.Without the relevant market design,or without appropriate de-risking tools,the w

140、ind industry could see investor confidence waver and financing costs increase.Prolonged bouts of zero or sub-zero prices threaten to derail commitments to renewables as governments and financers reassess the risks.This evolving trend is drawing attention to its causes,including electricity market de

141、sign inefficiencies,auction design,marginal cost bidding as well as the factors outlined below.One of the cases when negative prices usually arise is in the times of a lower demand level with a simultaneous oversupply of energy.Conventional generators decide on the pricing depending on their flexibi

142、lity and the costs of shutting down and ramping up as compared to incurring short-term sales at negative prices.If the estimated losses from paying for their energy to be bought are lower than the costs of restarting the generator,then in order to minimize losses the energy will be offered at negati

143、ve prices.This may also occur as some of the generators have contractual obligations to run during the times with negative prices.Other factors include:l End-user demand by households and businesses may not be flexible enough,or incentivised enough,to change consumption behaviour from high-cost peri

144、ods to low/negative-cost periods.l There may be insufficient batteries,pumped-hydro or other storage capacity to absorb excess electricity during negative-price periods.This lack of storage options means producers miss the opportunity to store power at negative prices and later sell it for profit.Th

145、is chart shows a weekend in Europe in April 2024,t when a strong offshore storm in the UK led to high wind output and,at times,negative prices.The day ahead prices are shown in black and in green are the spot prices reflecting short-term supply and demand fluctuations.As prices start to go negative

146、or just low enough,the battery storage system(blue bars)absorbs and stores the excess supply to then inject those electrons when prices are higher.This is a market functioning as intended,with negative prices being an inherent part of its design.When grids lack flexibility or sufficient storage to a

147、bsorb power during negative-price periods,negative pricing events become more frequent,particularly as renewable penetration continues to increase.In the past few years,the number of negative power price hours has risen significantly in Europe and elsewhere.According to EU market monitor ACER and th

148、ink-tank BNEF,there was a twelvefold increase in the occurrence of negative wholesale energy prices in 2024 with the most instances taking place in Northern Europe.A similar trend is also occurring in Australia,which saw market prices dropping below zero 14%of the time in 2024.11Negative prices Sour

149、ce:Timera Energy10Price(/MWh)A week in the European market,April 2024500200400160300120200801004000-100-40-200-80-300-120-40005 Apr 2400:0005 Apr 2412:0006 Apr 2400:0006 Apr 2412:0007 Apr 2400:0007 Apr 2412:0008 Apr 2400:00-160Net BESS BM VolumeNet BESS PN VolumeVolume(MWh)Day Ahead Nordpool PriceHH

150、 Avg EPEX SPOT priceLarge volume of BESSoffers accepted15 hours of negativeday ahead prices10.https:/timera- WIND REPORT 2025 17Part One:Trends to Watch Addressing negative power pricesElectricity markets in regions such as Europe face the prospect of increasing negative power prices over the coming

151、 years if policy,regulatory and technological measures are not taken to safeguard wind energys investment case and accelerated growth trajectory.l Battery storage:Building out more energy storagesuch as lithium-ion batteries,pumped hydro,or hydrogenenables the system to absorb surplus power during p

152、eriods of low or negative prices and release it when prices recover.This solution can range from compact,freezer-sized units for individual homes to expansive container-based systems in open fields.Battery storage will not only stabilise the revenue for renewable producers but also maintain grid bal

153、ance as renewable penetration grows.l Technological innovation:Developing hybrid projects(e.g.,wind-plus-hydrogen or wind-plus-storage)allows surplus energy that would otherwise cause negative prices to be diverted into storage or alternative uses,mitigating price drops and enhancing overall system

154、flexibility.l Grid flexibility through pricing and policy:Implementing demand-response programmes,real-time pricing,and supportive market rules to encourage consumers and producers alike to adjust to changing supply and demand.Such measures reduce the incidence of negative prices by incentivising co

155、nsumption shifts and bolstering flexible generation.l Flexible operation of conventional plants:While the goal remains to phase out fossil-based generation over time,improving the ramping capabilities of existing coal or gas plants in the near term can help buffer sudden changes in wind or solar out

156、putthus reducing negative price events.l Stable off-take agreements:Updated or well-structured PPAs,Contracts for Difference and off-take contracts that guarantee predictable revenue streams for wind,reduce the investment risk and maintain project viability.l Increasing country and regional intercon

157、nectors:An enhanced interconnection network has the potential to reduce market volatility by evacuating excess power generation.Bottlenecks still occur even in regions with high degrees of interconnections,highlighting the need for greater interconnection to ensure efficiency.l Revisit Capacity Mark

158、et regulation:Wind energys eligibility from a system operators perspective to provide this capacity presents another viable outlet for power generated.11.https:/ 12.https:/ 13.https:/ Europe is having record levels of negative energy pricesSource:BloombergNEF12600 hours4002000Jan202420232022FebSourc

159、e:EEXNote:Data includes the total hours across Germany,France,Spain and the UKMarAprMayJunJulAugSepOctNovDecNegative Electricity prices will increase tenfold in the years to comeSource:BloombergNEF13JanFebMarAprMayJunJulAugSepOctNovDec1,000 hours202720262025202420237502505000Source:Modo EnergyGWEC.N

160、ET 18Part One:Trends to Watch For the wind industry to reach its full potential,a robust and reliable supply chain is essential.GWECs projections under current policy scenarios,which include stop start auction frameworks,indicate that wind energy will only reach about 77%of the capacity needed by 20

161、30 to remain on a net zero pathway.To close this gap,annual installations must grow nearly threefold.Wind manufacturing output will also have to grow in line with this rate of installation.At present,however,global manufacturing capacity is not yet on an aligned pathway.After decades of stop start a

162、uctions and procurement cycles,production of key components,such as nacelles,blades,and towers,has fallen behind other renewable energy technologies and remains below the levels required to meet net zero targets.In fact,a global study on the state of the wind energy supply chain entitled,“Mission Cr

163、itical:Building the global wind energy supply chain for a 1.5C world”,produced by GWEC in partnership with Boston Consulting Group(BCG),shows that the manufacturing output from current supply chain is even below the levels required to meet the predicted market growth forecast under current policy sc

164、enario.This shortfall not only restrains growth and undermines ambitious capacity goals but also threatens to stall the broader energy transition.Without significant investment to bolster manufacturing capacity across all regions,the gap in the worlds net zero roadmap will only widen,jeopardising cl

165、imate objectives that are dependent on the rapid expansion of wind power.However,the wind industry is increasingly experiencing high demand-side volatility,hesitation towards scaling on the supplier side,and rapid technological innovations.These factors have fueled a race to the bottom approach to c

166、osts combined with a race to the top thinking on turbine size,leading to growing technical risk and a low level of serial production.Factors affecting supply chain developmentNew wind capacityProjected new wind capacity based on current growth ratesAnnual capacity gap to meet net zero by 2050 vscena

167、riosCumulative wind capacity to meet net zero by 2050 scenarios2021 2022 2023 2024 2025Annual installations need to grow by 3xOr we reach only 77%of the wind power required by 2030 to stay on-track for a net-zero/1.5C pathway2026 2027 2028 2029 2030New global installations(GW)Cumulative global insta

168、llations(GW)05010015020025030035040004008001,2001,6002,0002,4002,8003,200Wind power installations need to triple by 2030 in order to achieve a 1.5C PathwaySource:GWEC Market IntelligenceGWEC|GLOBAL WIND REPORT 2025 19Part One:Trends to Watch The wind supply chain is highly global in nature,with a st

169、rong focus in China given its sizeable domestic demand.But from Europe to the Americas,supply chain investment in some of the worlds key regions has not been insufficient in recent years and has seen setbacks in its ability to make forward-looking investments in supply,mainly due to stop-start gover

170、nment policies,permitting bottlenecks and a lack of clarity and regular cadence for tenders.Market design and policy frameworks overly focused on power cost have unintentionally led to razor-thin or negative margins while failing to account for higher financing and material costs,making investment i

171、n supply chains unviable.Four broader challenges are impacting todays global wind supply chain development:l Market volume and power price volatility is increasing in many markets.Failed auctions,project cancellations,inflationary impacts on supply chain components,shipping and logistics as well as

172、the rising cost of capital are all impacting the investment case for wind energy.l The rapid innovation curse.The industry has reached a stage where ever-larger turbines are specialised in specific markets but less suited to the global market.At the same time,the core industry challenges created by

173、the rapid increase in turbine sizes are becoming increasingly evident,including a shortened product development lifecycle that can lead to defects stemming from untested new technology deployments,large R&D spend for OEMs that they have not been able to recuperate,and a lack of industry standardisat

174、ion pushing up costs.l At the same time,ongoing trade disputes and protectionist measures add another layer of uncertainty,imposing additional costs on manufacturers and developers.The cumulative effect creates a less attractive environment for long-term investment,as businesses remain wary of unpre

175、dictable tariffs,fluctuating regulations,and geopolitical tensions that could stall or derail wind projects at any moment.To further stimulate supply chain investment and meet ambitious net zero targets,the wind industry must leverage regional strengths,de-risk investments,simplify regulations,stand

176、ardise processes and enhance global collaboration.50%Solar PV2023 OutputIncreased utilisationCommittedPreliminaryOutput from announced manufacturing capacity:Output from existing manufacturing capacity:Share of NZE Scenario deployment in 2035WindBatteries0%150%100%2035 NZE deploymentModulesCellsWafe

177、rsPolysiliconNacellesBladesTowersHeat pumpsElectrolysersBatteryCathodesAnodes2035 APS deployment150%0%450%300%Announced annual manufacturing capacity as shares of deployment in 2035 by technology and scenarioSource:IEA.CC by 4.0.Notes:APS=Announced Pledges Scenario;NZE=Net Zero Emissions by 2050 Sce

178、nario.Battery demand here includes that for all electric vehicle types and stationary storage.Announced manufacturing capacity refers to announcements made by H1 2024 that could come online by 2030.GWEC.NET 20Part One:Trends to Watch Wind energy auctions challenges and recommendations Auctions for l

179、ong-term offtake contracts remain a key route to market for renewable projects globally.As of January 2025,the cumulative global auctioned clean energy capacity stands at 1,280 GW,with wind energy accounting for 31%of awarded capacity since 2003.Looking ahead,68 GW of onshore wind and 97 GW of offsh

180、ore wind(OFW)auctions are in the pipeline.14 Table 1 shows a few commonly used competitive offtake mechanisms for wind energy.Evolving challenges in wind energy auctionsWhat worked in the past may no longer be fit for purpose as renewable energy deployment scales up,and auction mechanisms will need

181、to undergo reforms to reflect new market realities.Rising material costs,inflation,permitting delays and supply chain bottlenecks are testing the robustness of auctions to deliver realistic price discovery.Auctions increasingly incorporate non-price criteria,shifting from price-only competition to p

182、rioritising factors such as local supply chain development and sustainability commitments.Policymakers must now balance multiple considerations to ensure auction mechanisms remain effective.This is particularly critical for capital-intensive,long-lead-time projects like offshore wind.Upon award,it t

183、ypically takes around two to three years sometimes longer before projects reach final investment decision(FID),15 when a developer formally commits to funding and proceeding with construction.Challenging project economicsWhile renewable energy costs have fallen over the past decade,soaring capital c

184、osts,inflation and supply chain disruptions are driving up wind energy project costs.16 Auctions that fail to account for evolving macroeconomic conditions risk project failure.Recent years have shown that fixing prices at the time of auction without mechanisms for inflationary adjustments can sever

185、ely impact project viability,as global economic events have repeatedly overturned project economics post-award.Wind energy(especially offshore wind)has long development timelines.With limited options at their disposal for price adjustments between auction award and project commissioning,developers o

186、ften fail to use safeguard mechanisms to protect themselves from factors such as the fluctuating costs of key commodities,workforce expenses and other factors,as seen in the US and UK markets.AuctionsTable 1:Common competitive offtake mechanismsMechanismPrice allocationDefinitionContract for Differe

187、nce(CfD)AuctionA financial mechanism where the government guarantees a fixed“strike price”for OFW energy;if market prices fall below this,the difference is paid to the producer,and if they rise above it,the producer pays back the excess.Feed-in Premium(FiP)AuctionA policy where OFW energy producers

188、receive an additional premium payment on top of the market price of electricity.Power Purchase Agreement(PPA)AuctionA long-term contract between an energy producer and a buyer(typically a utility,corporation,or government)where the buyer agrees to purchase electricity at a predetermined price(may ha

189、ve linkages to an index),providing financial certainty for the generator and stable energy costs for the buyer.Renewable Energy Certificates(REC)Administrative process or AuctionTradable certificates representing the environmental benefits of generating one MWh of renewable electricity,which can be

190、sold separately from the physical electricity.14.BNEF,Global Clean Energy Auctions Update 1Q 202515.To achieve Final Investment Decision(FID),the developer needs to secure financing,finalises procurement contracts,carry out engineering design,obtains final regulatory approvals to confirms the projec

191、ts technical and financial viability.16.BNEF,2H 2022 Levelized Cost of Electricity UpdateThe challenges facing wind energyGWEC|GLOBAL WIND REPORT 2025 21Part One:Trends to Watch In 2023,the US offshore wind industry was grappling with inflation,the rising cost of capital,permitting delays,grid conne

192、ction challenges,and an urgent need to establish local supply chains.Many previously agreed offtake contracts became economically unviable,leading to contract renegotiations and cancellations.The levelised cost of energy(LCOE)for US offshore wind projects increased 50%from 2021 to 2023.The absence o

193、f inflation adjustments in the offtake agreements exacerbated financial challenges,eroding developers revenue streams.While the Inflation Reduction Act(IRA)provides some relief,developers continue to advocate for inflation adjustment mechanisms in contracts and further investment incentives to mitig

194、ate risks and improve project viability.The competitive nature of constrained volume auctions,coupled with the need to predict future market conditions and technology evolution,created a strong incentive for developers to submit aggressive bids.Colliding with aforementioned challenges around shiftin

195、g macroeconomic climates,including changing market conditions and delays in ports and grid infrastructure,which are crucial for timely construction and project connection,this trend has caused some developers to withdraw after realising that their initial bids are no longer economically viable.Furth

196、er complicating the challenge,some governments have continued to drive down prices through unrealistic auction pricing strategies.For instance,Taiwan(China)has enforced a rigid price ceiling,limiting the developers ability to establish a stable revenue stream through government PPAs,while Japan has

197、implemented a zero-premium approach,Case Study 1:Turbulence in the US offshore wind industryGWEC.NET 22Part One:Trends to Watch encouraging bidders to bid at a Feed in Premium price level equivalent to zero subsidy to achieve the highest bid points.In both cases,some developers proceed with projects

198、 despite unsustainable pricing,hoping to secure long-term corporate power purchasing agreements(CPPAs)and close the gaps later.However,this approach may prove unfeasible after auction award if the tariffs required by the projects do not align with the price,terms and volume expectations of potential

199、 creditworthy corporate offtakers.We encourage governments to recognise that the best way to ensure affordability and longer-term cost reduction in emerging markets is to put in place a long-term PPA framework that shares risks appropriately between governments and industry,accounting for macroecono

200、mic risks,such as interest rates,inflation,foreign exchange and regulatory risk,that can arise between the auction award and FID.There has also been a shift in the world as developers are now behaving more conservatively in bidding,which has led to what we have seen as undersubscribed auctions.While

201、 auction mechanisms remain a crucial tool for wind deployment,they vary significantly across markets,making cross-country comparisons and policy harmonisation difficult.In emerging markets for wind,industry and government can work together to ensure the deliverability of the first stage projects tha

202、t will pave the way for the widespread roll out of wind.We encourage the prioritisation of robust,flexible auction designs,which focus on appropriate risk sharing and long-term contracts that accommodate evolving economic realities,safeguard project viability.These factors be critical to the long-te

203、rm success of wind energy deployment.Case Study 1:Turbulence in the US offshore wind industry(continued)2021 LCOE2023 LCOECAPEX and OPEX riseInterest rate hikeBonus tax creditLevelised cost energy(MWh)10001005077.327.2114.2-7.216.90Impact of inflation,interest rates and tax credits on US offshore wi

204、nd LCOESource:BloombergNEF,2023.GWEC|GLOBAL WIND REPORT 2025 23Part One:Trends to Watch Meeting the commitment to triple renewable energy capacity by 2030 and the Paris Agreement goals will require an unprecedented scale-up in electricity grid investments.Electricity grids must shift from being bott

205、lenecks to becoming the backbone of the energy transition,ensuring energy security,economic resilience and industrial competitiveness alongside climate objectives.The outcomes of COP29 underscored the pivotal role of grids in the global energy transition,with the Grids and Storage Pledge committing

206、to add or refurbish 25 million kilometres of grids by 2030.However,analysis from the International Renewable Energy Agency(IEA)shows that an additional 65 million kilometres will be needed by 2040 to align with net-zero emissions by 2050.This pledge is not only about decarbonisation but also about e

207、nabling economic growth,job creation and the electrification of key sectors,to ensure that countries can meet rising electricity demand with clean and reliable power.Governments and industry stakeholders have recognised that,without significant upgrades and expansion,grids will remain the bottleneck

208、 preventing the large-scale integration of renewable energy.Strengthening grid infrastructure is essential to improving energy affordability,fostering cross-border electricity trade and providing stable power supply to industries and communities.While setting a global target acts as a guiding beacon

209、,success in this effort depends on proactive national and regional actions that go beyond the Global Pledge.Countries must conduct comprehensive assessments of grid infrastructure,operational efficiency and regulatory frameworks to identify gaps and accelerate modernisation.The need for grid expansi

210、on and modernisationGrid expansion continues to lag behind the rapid growth of renewable energy sources.Despite setting ambitious renewable energy targets,many countries are not developing the transmission and distribution infrastructure needed to support them at the required scale and speed.The IEA

211、16 reports that at least 3 TW of renewables projects are waiting in grid connection queues.This figure highlights grid constraints as a critical barrier to achieving net zero emissions.Modernising grids is essential to unlocking the full potential of renewable energy,enabling greater flexibility,res

212、ilience and efficiency in electricity systems.Solutions such as Green Corridors and the development of Green Energy Zones can drive targeted infrastructure expansion,improve regional connectivity and support decentralised renewable integration.Additionally,micro and mini grids play a key role in ext

213、ending electricity access to complex geographies and underserved areas,ensuring that clean energy reaches where it is needed most.Accelerating grid expansion and modernisation will reduce congestion and curtailment,enhance energy security and increase the economic viability of new renewable energy p

214、rojects,making clean power more accessible and reliable for all.Streamlining permitting and regulatory processesStreamlining permitting and regulatory processes is key to accelerating grid development and unlocking the full potential of renewable energy.COP29 emphasised the urgency of regulatory ref

215、orms to expedite approvals,ensuring that grid infrastructure projects can move forward at the pace needed to support the energy transition.By adopting best practices,such as clearer permitting guidelines,digitalised approval systems and stakeholder engagement frameworks,countries can significantly r

216、educe delays while maintaining environmental and social safeguards.Faster and more transparent permitting processes will also boost wind energy GridRenewable energy capacity in connection queues by project stage(left),and advanced-stage solar PV and wind projects by region(right)Late stage(GW)Under

217、review(GW)976548900Solar PVUSEuropeAPACLATAMWind8001000700GW60050040030020010001,505Early stage/unlikely(GW)Figure 1:Renewable energy capacity in connection queues18Source:International Energy Agency18.IEA,Renewables 202,2024 GWEC.NET 24Part One:Trends to Watch deployment.Currently,there are five ti

218、mes more wind projects in permitting than under construction in the EU.Addressing these bottlenecks with well-structured policies will create investment certainty,enabling a smoother and more predictable project pipeline.Aligning regulatory frameworks with long-term renewable energy targets is cruci

219、al to bridging the gap between policy ambition and execution.Proactive policy changes that integrate anticipatory grid planning,enforce permitting deadlines and encourage cross-sector collaboration will accelerate grid expansion.Mitigating grid congestion and the curtailment of renewablesMaximising

220、the efficiency of transmission networks is essential to ensuring that renewable energy can reach consumers without limitations.The Grids and Storage Pledge highlights the need to reduce congestion and curtailment,ensuring that renewable energy capacity is fully utilised.Curtailment of renewable ener

221、gy occurs when the power generated cannot be delivered to the grid due to technical constraints.In Spain,non-compensated curtailments accounted for over 1%of total renewable generation in both 2022 and 2023.Certain provinces experienced curtailment rates exceeding 10%,highlighting regional dispariti

222、es in grid infrastructure20.Electricity market structures in many countries do not adequately incentivise optimal grid use.Without structural reforms such as locational pricing mechanisms,dynamic grid tariffs,capacity markets and congestion management tools,inefficiencies will persist.Addressing con

223、gestion requires not only new transmission investments but also better grid management and market design improvements.Enhancing flexibility and system balancing mechanismsA more flexible power system is essential to accommodate the variability of renewable energy generation.Investments in energy sto

224、rage,demand-side management and digital grid technologies must be accelerated to ensure a resilient and reliable electricity network.While COP29 emphasised the urgency of energy storage deployment,widespread implementation remains slow due to high costs and regulatory uncertainty.Proactive policy me

225、asures and financial incentives are needed to drive adoption at scale.Grid operators require a diverse set of tools to balance renewable generation effectively.Demand response mechanisms,interregional power exchanges and hybrid renewable-storage solutions can enhance grid flexibility and optimise en

226、ergy distribution.Real-time grid management systems and AI-driven forecasting tools can improve operational efficiency and reduce reliability concerns as wind penetration increases.Electricity markets must evolve to provide stronger incentives for flexibility solutions,including capacity remuneratio

227、n mechanisms and ancillary service markets that fairly compensate storage and demand response participation.Scaling up grid flexibility measures will be crucial in maximising the potential of wind energy and ensuring a stable transition to a renewables-powered future.Strengthening investment and bus

228、iness models for grid expansionGrid infrastructure requires substantial capital expenditure.Existing business models often lack the necessary incentives for grid operators to innovate and expand,while regulatory frameworks in many countries do not sufficiently reward digitalisation,automation or eff

229、iciency improvements.Existing cost allocation methods often place a disproportionate burden on utilities and governments,limiting the scalability of investments.Expanding Public-Private Partnerships(PPPs)and leveraging innovative financing mechanisms such as green bonds,climate funds and revenue-sha

230、ring models can help bridge the investment shortfall.Bringing in a wider pool of contributors,including industrial consumers and emerging market participants,can enhance investment stability and accelerate grid modernisation.De-risking infrastructure in Emerging Markets and Developing Economies(EMDE

231、s)is crucial for attracting private sector participation.Solutions such as credit guarantees,concessional financing and insurance mechanisms can lower financial risks,making grid investments more attractive.ItalySpain38%21%20%15%5%FranceUKGermany55 GWFigure 2 Permitting pipeline for onshore wind1919

232、.BloombergNEF20.https:/ WIND REPORT 2025 25Part One:Trends to Watch Strengthening supply chains and workforce for grid expansionCOP29 acknowledged the pressing need to enhance supply chain resilience,particularly for key grid components such as transformers,high-voltage direct current(HVDC)cables,an

233、d substations.Addressing global shortages in these critical components is essential to accelerating grid expansion and ensuring timely infrastructure deployment.Investing in localised manufacturing capacity,strategic stockpiling and diversified supplier networks can mitigate delays and reduce system

234、 constraints.Workforce development is also pivotal to scaling up grid infrastructure.Addressing gaps in high-voltage engineering,system planning and digital grid solutions requires targeted training programmes,reskilling initiatives and stronger industry-academia collaboration to build a robust tale

235、nt pipeline.By strengthening both supply chains and workforce capacity,countries can ensure that grid expansion keeps pace with renewable energy deployment,fostering a more resilient and future-ready electricity system.Turning pledges into actionWhile the Grids and Storage Pledge at COP29 was an imp

236、ortant milestone,it is only the beginning.Implementation will determine whether these commitments translate into real-world impact.Scaling up investments,modernising regulatory frameworks and accelerating infrastructure deployment are essential to ensuring that grids can support the rapid growth of

237、renewable energy.A collective effort from policymakers,industry leaders and financial institutions is needed to drive coordinated action.Prioritising grid expansion,flexible market structures,streamlined permitting and supply chain resilience will unlock the full potential of renewables and enhance

238、energy security.By taking bold and decisive steps now,grids can transition from being a bottleneck to becoming the backbone of a reliable,resilient and renewables-powered future.GWEC.NET 26Part One:Trends to Watch Wind energys continued deployment across the world has meant that there is an increase

239、 in tissues related to social acceptance.This resistance stems not only from legitimate concerns but also from orchestrated disinformation campaigns financed by fossil fuel interest groups.The spread of false narratives about wind energy is exacerbating the persistent and multi-faceted issue of perm

240、itting bottlenecks,influencing policy decisions and eroding public trust in renewable energy solutions.Disinformation and the social licence to operateThe concept of the social licence to operate is fundamental to any infrastructure and energy development.This is especially true for wind energy,as t

241、he most targeted renewable energy technology in disinformation campaigns.Before diving deep into the implications of disinformation on wind energy,it is important to distinguish between disinformation and misinformation:Disinformation:The term refers to concerted and deliberate efforts to spread fal

242、se news and inaccurate or compromised information to the general public and local wind energy stakeholders.The are to introduce bias,increase opposition and undermine developments.Misinformation:The term describes the propagation of false information without malicious and deliberate motivation.Often

243、,misinformation is spread unknowingly by wind energy development stakeholders,such as community activists,“concerned citizens”or even NGOs.Many opponents of wind energy are biased,often without awareness of their misinformed views.Recent research underscores just how pervasive both misinformation an

244、d disinformation about wind energy has become among the general public.A 2024 study published in Nature Communications found that nearly 30%of respondents in the United States,United Kingdom,and Australia agreed with half or more of the tested false claims about wind farmsranging from health concern

245、s to environmental harm.These beliefs are not isolated;they reflect a coherent,worldview-UKUSGovernment withholds informationGovernment and industry have secret arrangementsScientists manipulate factsEndanger pedestrians due to detaching iceCosts recoup only after 50 yearsScientists downplay health

246、risksEmit more CO2 than they saveGenerators have to be replaced after 3 yearsCause bird extinctionNoise causes health problemsDry out soilsUse up building materials for housingPower cables cause cancer%of participants agreeingClaimClaims are sorted by decreasing the average level of agreement across

247、 countries.Exact wordings can be found in table 3.United States:N=1000,United Kingdom:N=1004,Australia:N=1004.Source data are provided as a Source Data file 010203040AustraliaFigure 3:Public Agreement with Misinformation About Wind Energy21 Source:BloombergNEFSocial Acceptance and disinformation21.W

248、inter,K.,Hornsey,M.J.,Pummerer,L.,&Sassenberg,K.(2024).Public agreement with misinformation about wind farms.Nature Communications,15,Article 8888.https:/doi.org/10.1038/s41467-024-53278-2GWEC|GLOBAL WIND REPORT 2025 27Part One:Trends to Watch driven rejection of wind energy,often rooted in conspira

249、cy thinking rather than a lack of scientific understanding.This illustrates that misinformation and disinformation hinder progress towards global wind development targets and to decarbonising the energy sector.Approaching local communities and project stakeholders in good faith is essential for enab

250、ling any change in entrenched positions.Without broad community support,wind projects face significant roadblocks that can lead to costly legal battles,stalled construction and,in some cases,project cancellation.Social acceptance is often shaped by a combination of real concerns about land use,envir

251、onmental impacts,community engagement,involvement and benefits,as well as misinformation,which distorts facts and can lead to direct opposition.Misinformation campaigns create a climate of uncertainty for developers and sometimes an outright hostile environment,making it difficult to engage with com

252、munities in meaningful ways.Concentrated disinformation campaigns can take common misconceptions and amplify them,spreading them in an organised way through various media.This is especially impactful in Emerging Markets.Here,misinformation has been weaponised to stall projects by fostering scepticis

253、m and resistance among local populations.False claims about land dispossession,economic harm and adverse health effects undermine community trust and discourage investment.Without positive case studies to report in markets where developments are not yet frequent,it is increasingly difficult to count

254、er existing narratives.Here,half-truths are often used to tell a one-dimensional story that may contain certain accurate elements,while adding misinformation.For example,NGOs in the US have repeatedly claimed that whale deaths along the East coast are a direct result of offshore wind developments.Wh

255、ile it is correct that cases of whale strandings along the East coast have increased,there is no scientific evidence to support statements that this is due to offshore wind developments.Expert opinion points to shipping and fishing gear entanglement as the most likely causes.Despite the availability

256、 of this crucial information,public opinion remains heavily biased against offshore wind based on these concerns.How misinformation undermines wind energyMisinformation about wind energy manifests in several forms,often amplified through social media,Untrue/Unverified(T)Push Non-TransformativeSoluti

257、ons(D)Emphasize downside(D)Conspiracy theories(F)OSWGeneral RenewablesLogical Fallacies(F)Exaggeration/FearMongering(T)Partisan association(T)0%20%40%10%30%Table 1:Differences in frequency of negative claims between OSW specifically and renewables generally.For example,pushing non-transformative sol

258、utions was much more common when discussing renewables as opposed to OSW,appearing in 28%of general renewables claims.D=Discourses of Climate Delay;F=FLICC framework;T=This study.Figure 4:Types of Disinformation in U.S.Congressional Discourse on Offshore Wind(2023)22Disinformation and misinformation

259、 about wind energy have substantial economic consequences.Widespread opposition often rooted in misinformation can substantially raise the cost of developing wind farms.22.Garo,I.(2024,February 29).Spinning Negativity:Disinformation in U.S.Congressional Discourse About Offshore Wind.Climate and Deve

260、lopment Lab,Brown University.Retrieved from https:/www.climatedevlab.brown.eduGWEC.NET 28Part One:Trends to Watch political rhetoric,and interest groups linked to the fossil fuel industry.Common falsehoods include:l Environmental misinformation:“Wind turbines kill whales!”,“Wind turbines threaten lo

261、cal water quality.”l Public health misinformation:“Wind turbines make people sick!”,“Wind turbines create harmful electro-magnetic fields and cause cancer!”l Economic and grid stability arguments:“Wind farms reduce adjacent property values.”,“Wind farms negatively impact tourism revenue.”,“Wind ener

262、gy causes grid blackouts!”A case in point is Brazils recent offshore bill,enabling offshore wind developments in the country for the first time.Local campaigners falsely stated that offshore wind farms have negative impacts on coastal ecosystems and biodiversity.While scientific opinion does not sup

263、port such blanket statements,the controversy led to community pushbacks and might result in permitting delays and financial losses for developers.Disinformation:Implications for policy and the economyThe disinformation ecosystem targeting wind energy is linked to well-funded fossil fuel interests ai

264、ming to preserve the status quo,with talking points that find their way into the highest levels of policymakers and government officials the very people that are often in direct control of regulatory bodies,frameworks and strategic planning for wind energy.A Brown University study found that in just

265、 six months of US Congressional discourse,over 440 instances of misleading claims about offshore wind were recorded.This highlights how mis-disinformation is politically weaponised,creating issues that affect the entire wind industry.Research in the UK found that fragmented local planning,driven by

266、NIMBY(not in my backyard)attitudes,has increased the cost of deploying wind power by 1029%,equivalent to an extra 823 billion($1029 billion).23 Similarly,a modeling study in Ireland showed that strong public opposition can raise overall energy costs by up to 33%(including the cost of unserved energy

267、).Even excluding extreme scenarios,investment and operating costs still rose by 56%under high-opposition conditions.Dis-and misinformation can also negatively impact wind energys social licence,with an inevitable knock-on effect of project delays that increase costs,which amplifies risk while making

268、 investments in wind energy less attractive.Research by the Global Clean Energy Institute has shown that false claims linking offshore wind to whale deaths have directly resulted in permit moratoriums in key US states,costing the industry billions in lost revenue and delayed capacity expansion.Socia

269、l license is weakened by disinformationMisinformation distorts legitimate concerns,overshadowing real discussions about how wind projects can benefit communities.Instead of addressing concerns about land ownership,revenue distribution and community participation,developers are forced into a reactive

270、 mode.Their focus on countering false claims can obscure meaningful dialogue with communities and stakeholders.Additionally,disinformation erodes trust in institutions and regulatory processes,making communities hesitant to engage in discussions about wind energy developments in their vicinity and p

271、otentially associated benefits.This is particularly concerning in emerging economies where trust in governance,democratic processes and institutions can be already fragile.Addressing misinformation and disinformationEfforts to combat misinformation must be diverse,involving policy advocacy,positive

272、storytelling,prebunking and debunking,proactive,early and qualitative community engagement,as well as industry collaboration.Additional strategies can include:l Strengthening transparency in project planning:Early,clear,and honest communication with communities about benefits and trade-offs.l Counte

273、ring false narratives with factual and positive storytelling:Wind energy success stories should be shared in accessible ways,featuring real community voices,rooted in actual projects.l Building coalitions to push back against misinformation:Collaboration with local communities,NGOs,local leaders and

274、 journalists to ensure positive and constructive discourse.The battle against mis-and disinformation is not just about protecting the wind industry it is about securing a just and equitable energy transition that benefits all.23.Jarvis,S.The Economic Costs of NIMBYism Evidence From Renewable Energy

275、Projects,(2021).GWEC|GLOBAL WIND REPORT 2025 29Part One:Trends to Watch As referred to in the emerging trends section,one of the most outstanding trends in global supply chains is the increase in politically motivated uncertainty in trade relations.Supply chain localisation,understood as positioning

276、 strategic stages of the supply chain within regions where key stakeholders or end-users are based,aims to account for these risks,mitigating potential disruptions while stimulating local industry development.However,if pursued with overly restrictive policies,it threatens to decrease cost-competiti

277、veness and slow the expansion of renewable energy capacity.Stringent or mandatory local Content Requirements(LCRs)and tariffs are particularly salient in this regard.The former requires foreign or domestic investors to source a percentage of goods or services locally,serving as an increasingly promi

278、nent form of non-tariff barrier(NTB)that often disadvantages foreign competitors in procurement processes.Their use has grown since the 2008 financial crisis,as governments across continents seek to bolster employment,safeguard local industries,and enhance economic security in response to increasing

279、ly pressing geopolitical risks.Tariffs are a more direct method to restrict foreign access to domestic markets.By imposing duties on imports,they increase the price of foreign goods,with the goal of stimulating demand for locally produced alternatives across various levels of the value chain.Tariffs

280、 had significantly decreased over the past decades as part of the process economic globalization,but their popularity is on the rise again.While LCRs and tariffs can stimulate industrial development and job creation in emerging markets,they also tend to hinder investment and growth by restricting ac

281、cess to foreign suppliers,limiting supplier options,driving up costs,and ultimately harming the very local industries they aim to support.Complementary policy initiatives,such as training programmes to build local skills,demand-side instruments,incentive-based industrial support schemes,and R&D fund

282、ing for innovation,can help mitigate some of the negative effects often associated with such policies.Nonetheless,the industry recommends that if adopted,LCRs,tariffs and other restrictive policies should be an exceptional,time-limited measure,phased out as local industries become competitive on the

283、 global stage.Regardless of whether they are implemented alongside these supporting frameworks,LCRs and tariffs should always be considered an ad-hoc,temporary,and time-specific policy approach.They may be deployed to support industrial development in developing regions where local industries genuin

284、ely lack the capacity to compete globally but should not be used to shield well-established industries from foreign competition.Therefore,the industry recommends that LCRs and equivalent measures be gradually phased out as local industries develop sufficient competitiveness and production scale to o

285、perate successfully in the global marketplace.Supply chain localisation can and should be achieved without an over-reliance on market-disruptive measures.In this regard,several industry case studies illustrate how market-friendly policy principles advance localisation by creating favourable conditio

286、ns that attract investment in local supply chain capabilities.The following key principles highlight the industrys preferred strategic framework for building local industrial capabilities:Harness the benefits of international competitionThe controversies surrounding the imposition of strict Local Co

287、ntent Requirements in China following the implementation of the 2021 Offshore Local content requirements and tariffsGWEC.NET 30Part One:Trends to Watch Wind Power Zonal Development Capacity Allocation Rules highlight the negative consequences of restricting access to global supply chains.Due to exce

288、ssively restrictive LCRs,developers were forced to source essential components,services,and equipment from a small number of local companiessometimes just a single supplier for certain components.This concentration of market power allowed these firms to drive up prices beyond levels that would be ec

289、onomically viable for most international developers.Following the EUs July 2024 WTO consultation request over Taiwans offshore auction designs,the Taiwanese government has reached a preliminary agreement with the EU to ease Local Content Requirements and remove localisation rules in future wind proj

290、ect allocations.Ensure policy coherence across domains and governance levelsIndustrial incentive schemes are necessary to accelerate the development of economies of scale at the local level,but they are insufficient to ensure the creation of a sustainable and profitable local industry in the long te

291、rm.In many instances,governments set ambitious renewable energy targets,but the absence of equally ambitious and well-coordinated grid expansion policies hinders their full realisation.This often results in supply and demand imbalances across multiple points in the supply chain,ultimately impacting

292、both industry growth and end consumers.Additionally,misalignment between policy formulation and execution across different levels of government GWEC|GLOBAL WIND REPORT 2025 31Part One:Trends to Watch can create further disruptions.To address these challenges,policymakers must ensure that renewable e

293、nergy,infrastructure,and industrial strategies are designed to be complementary and mutually reinforcing at all levels,driving long-term success.Focus on establishing continuity and predictability in the marketThe 2015 delay of Round 4 of South Africas REIPPPP highlights the importance of respecting

294、 long-term policy commitments to foster a favourable local investment environment.This unexpected halt eroded global investor confidence in South Africas market,weakening the overall stability of the wind energy value chain.This case demonstrates that the success of wind energy capacity expansion in

295、itiatives depends on the sustained commitment of relevant authorities to support industry development.Ensuring that policy initiatives for capacity expansion remain in place over the long term is crucial for achieving investor confidence in the industrys long-term profitability.Leverage local indust

296、rial strengthsIndustrial incentives and other forms of government support for emerging local wind power industries must be pursued in a cost-efficient manner.This involves focusing support efforts on sections of the value chain that can leverage local competitive advantages,such as existing infrastr

297、ucture,industrial expertise,and workforce capabilities.A prime example of this transformation is the repurposing of outdated offshore oil and gas port hubs for offshore wind development.Esbjerg,a port city on Denmarks west coast,exemplifies this shift,having evolved from a traditional oil and gas hu

298、b into a leading centre for offshore wind energy.In addition the UK government published a road map for offshore manufacturing highlighting which components will be prioritised and which components can be provided by international supply chain.Provide market incentives to attract investmentIncentive

299、-based policies are always more effective in promoting local industrial development than restrictive measures such as LCRs.A case in point is Polands 2020 Offshore Wind Act,which introduces flexible incentives for supply chain and local content development.The positive effects of this approach have

300、been amplified by the launch of the countrys National Reconstruction Plan(KPO),which provides further support through grants and direct loans for port infrastructure development and facilities for offshore wind construction and maintenance.This has resulted in an incredibly effective offshore wind p

301、ower development strategy,positioning Poland as a leader in the European market for the second half of the decade.Assess and empower the local workforceProviding adequate capacity-building and training to empower the local workforce is crucial for developing a robust renewable energy industry.India

302、has set a positive example by making significant strides in cultivating a skilled workforce for the renewable energy sector,particularly in wind energy,through initiatives like the Vayumitra training programme,managed by the National Institute of Wind Energy(NIWE).Since its establishment in 1998,NIW

303、E has trained thousands of professionals and supported various programmes,such as the Skills Council for Green Jobs and the National Skills Development Mission.These efforts,in collaboration with industry,education,and civil society,have positioned India as a leader in wind turbine manufacturing,wit

304、h over 17 wind equipment manufacturers exporting to Australia,Brazil,the USA,and Europe.Consider regional collaborationNational authorities should foster regional collaboration within the wind power industry to build resilient and robust supply chains that mitigate vulnerabilities in global supply n

305、etworks.By creating frameworks that align policies across trade,environmental,industrial,and infrastructure sectors,countries can enhance supply chain resilience and capitalise on regional advantages.For example,in the U.S.,regional initiatives such as the multistate cooperation framework between Ma

306、ssachusetts and Rhode Island for offshore wind development have successfully expanded capacity through coordinated procurement processes.Similarly,Denmarks early development of wind turbines in the 1980s,supported by the European Single Market,facilitated trade,knowledge transfer,and cross-border in

307、vestment,strengthening both local and regional supply chains.The creation of the TetraSpar offshore foundation technology by European firms exemplifies how integrated regional efforts can drive innovation and accelerate industry advancements.GWEC.NET 32Part One:Trends to Watch Like any modern indust

308、rial sector,the success of the wind energy industry largely depends on continuous technological innovation.As wind energy expands globally,the industry is constantly enhancing its ability to adapt to local conditions and demands,striving to provide more reliable and efficient solutions for large-sca

309、le energy generation.The trend of larger wind turbines is not a new development,but rather the result of gradual progress.Particularly in the offshore wind sector,the emergence of multi-megawatt turbines has been driving the industry towards higher efficiency.In the past year,major OEMs have continu

310、ed to introduce higher-capacity turbine models.However,the balance within the wind industry has shifted.While efficient supply chains improve quality and reduce costs,intense competition has led to rapid innovation,accelerating the release of new technologies.This fast-pace technological advancement

311、 presents challenges in safety,reliability and cost control.The major OEMs remain at the forefront of technological breakthroughs,consistently launching new turbines.In European onshore wind sector,Nordex upgraded its Delta 4000 6.X MW turbine with a larger 175-meter rotor in Q3 2022 and expanded it

312、s N175/6.X series by introducing a hybrid tower with a 200-meter hub height.Vestas installed the prototype of its EnVentus V172-7.2 MW wind turbine at Denmarks sterild test center in July 2024.Enercon launched the E-175 EP5 7.0 MW,featuring the newly developed E2 generator in March 2024,with the pro

313、totype installed in Wachendorf/Lower Saxony,Germany in April 2025.In the Chinese market,the pace of wind turbine scaling has been even faster.SANY installed its SI-230150-15 MW onshore wind turbine last October,and other Chinese OEMs such as Goldwind,Envision,Windey,CSSC,CRRC and Sinovel all have 10

314、 MW+turbines in their product portfolios.In the offshore wind sector,Vestas V236-15.0 MW model has already secured over 6 GW in confirmed orders globally.In December 2024,it received its first order in the Asia-Pacific region.Meanwhile,SGREs launched its SG21.5DD-276 offshore wind turbine last Decem

315、ber with the prototype being installed in Denmark for detailed testing before commercial deployment.Among Chinese OEMs,Dongfang Electric has announced a 26 MW offshore wind turbine the largest power rating to date.Goldwind revealed details of its deep-sea 22 MW wind turbine at its Shantou manufactur

316、ing base,featuring a 300m rotor diameter and a swept area equivalent to 10 standard football fields.Mingyang installed its OceanX features a V-shaped dual-tower,dual-mainframe and dual-rotor design,combining two 8.3 MW offshore wind turbines for a total capacity of 16.6 MW,making it well-suited for

317、deep-sea projects.As of the end of 2024,six Chinese OEMs had launched 20+MW models.Although this technical race trend has led to higher generation efficiency,it also presents significant challenges and development bottlenecks.Some existing wind turbine design standards no longer meet the design requ

318、irements of multi-megawatt units.Frequent issues such as blade fractures,blade tower strikes,and vortex-induced vibrations reflect deficiencies in blade design standards.Additionally,there are no industry standards for hybrid tower designs.In manufacturing,rapid product iteration can lead to frequen

319、t design changes and technological updates,increasing uncertainty in the production process,disrupting the learning curve,and raising both production costs and operational complexity making cost control difficult.The intense competition in wind turbine design has also led to supply chain bottlenecks

320、.Some Chinese OEM suppliers have expressed concerns about their ability to keep pace with rapid production acceleration,because component supplies cannot easily keep up with the pace of turbine development,threatening the sustainability of the supply chain.Production and assembly processes Race to n

321、ew turbine platforms The intense competition in wind turbine design has also led to supply chain bottlenecks.GWEC|GLOBAL WIND REPORT 2025 33Part One:Trends to Watch have not always evolved alongside technological advancements,leading to declines in manufacturing quality.Other parts of the industrial

322、 chain,including components,transport and installation,may not be fully compatible with the latest turbines designed by OEMs.To support advancements in turbine technology,the entire supply chain must make technological progress,including innovations in key components such as blades,generators,gearbo

323、xes and main bearings.In the Chinese market,the wind industry“price war”sparked by the termination of feed-in tariffs has led to a pursuit of a larger market share and a desire to showcase technological strength.The ongoing race for larger turbine sizes has produced negative economic impacts,particu

324、larly on the financial sustainability of component suppliers.One of the main issues is the short product life cycle.As manufacturers compete to produce increasingly larger models,the lifespan of each turbine model becomes shorter.This forces component suppliers to invest in new designs and technolog

325、ies for the next generation of turbines before they can fully realise a return on investment(ROI)from the previous models.As a result,suppliers are caught in a cycle of rapid product turnover,unable to recover costs and achieve profitability,which creates financial instability.These pressures are fe

326、lt not only by wind turbine component suppliers but also by developers.As the demand for larger turbines increases,developers are forced to continuously reinvest in new projects to accommodate the larger models.Thus,there are not enough opportunities to recoup costs already spent on earlier ones.Add

327、itionally,because some of those larger turbines have not been fully tested before the commercial installation,developers are exposed to the potential quality issues that could increase the OPEX and reduce the AEP.As turbine sizes grow and technological designs become more complex,the costs of both d

328、evelopment and manufacturing rise significantly.The short life cycle and constant race for larger turbines prevent suppliers and developers from achieving financial stability.With each new generation of turbines requiring large investments before the previous models ROI is realised,the economic sust

329、ainability of the wind industry is at risk.If these issues are not addressed,the long-term health of the industry could be jeopardised,as both suppliers and developers struggle to remain financially viable in the face of constant innovation and rising costs.Trend of onshore and offshore turbine size

330、,1980-2030Source:GWEC Market Intelligence.1980OffshoreOnshore19851990Tip Height(m)Rotor diameter(m)1991199547.5609812515319218734030019835m0.45 MW 0.5 MW2 MW3 MW5 MW9.5 MW26 MW35 MW(Estimate)6 MW15m20m40m43m80m90m126m270m300m(Estimate)126m39m76m90m126m154m164m310m350m(Estimate)15312510061.5553425.52

331、0002005201020152030202420200.05 MW 0.1 MW0.5 MW0.6 MW2 MW5 MW7.5 MW15 MW210190m8 MW20 MW(Estimate)3 MWGWEC.NET 34Part One:Trends to Watch The wind energy industry has long grappled with the challenge of accurately estimating the energy production impacts of wind turbine wakes.While the effects of in

332、ternal wakes within a wind farm are reasonably well understood,the magnitude and persistence of external wakes those generated by turbines located more than four kilometres beyond the project boundaries have been consistently underestimated by standard engineering wake models.As a leading renewable

333、energy technical consultancy with four decades of experience in providing finance-grade commercial and technical services for renewable energy projects,ArcVera Renewables,now Bureau Veritas Renewables Technical Advisory arm,has recently shed light on this critical issue.In the first case,ArcVera analysed four years of SCADA data from an onshore wind farm in the central United States.The normalised