Goldwind aims to blow away competition
Updated: 2011-03-17 09:59
By Karen Yip (China Daily)
Goldwind's booth at a wind-energy exhibition held in Beijing last October. Goldwind was ranked No 4 globally last year in terms of new wind-energy installation. [Photo / China Daily]
"This creates very good growth opportunities for us," she told China Daily.
IPPs such as China Datang Corp, China Hydroelectric Corporation, and China Longyuan Power Group Ltd, who are developers of clean energy projects, will profit from the government's plan to raise targets for wind-power capacity and from planned power grid upgrades.
According to a report from BNP Paribas, dated Feb 16, China aims to have as much as 150 gigawatts (gW) of capacity in 2015 and as much as 250 gW in 2020. In 2010, the country installed 16 gW of new wind-power capacity.
In line with Goldwind's clients' expansion plans and as the group make inroads into the international markets, Zhou said Goldwind has set its sight on acquiring technology companies that can design and create compact generators for easy transportation to fit the energy company's needs. It's also looking for buying opportunities in renewable power batteries, smart grids, cooling systems for generators and control strategies for its wind blades.
"We acquire the future, not the present. We will acquire companies that can help us to optimize our wind-turbine capacity," she said.
"When we acquire innovative technology, we want it to be already commercialized. Patents do not mean anything. We want the commercialization of the patents," she added.
Overseas expansion will help Goldwind to partly offset fierce competition among domestic manufacturers. The three largest domestic manufacturers - Sinovel Wind Group Co, Dongfang Electric Corp and Goldwind - have a combined production capacity of 8.2 gW for an annual market of 13.8 gW.
Even if China's economy continues to boom, it seems unlikely that all current domestic manufacturers will survive the tough competition, and many are expected to be squeezed out of the market.
Goldwind, which is listed on the Hong Kong Stock Exchange, was ranked the global No 4 last year in terms of new wind-energy installation. Currently, the company has a presence in Germany, Australia and the United States. Goldwind has also installed wind turbines in China, US, Canada, Cuba, Pakistan and in Europe.
The company's revenues are largely derived from the domestic market, followed by the US, Europe and Australia and emerging markets such as Africa, Southeast Asia, Central Asia and South America.
In 2010, the Chinese Renewable Energy Industry Association said that the country has 42.3 gW of wind power and has overtaken the US in terms of total installed capacity. The association said this puts China firmly on the path to reaching 200 gW of installed wind power by 2020.
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