bingocalling| Offshore wind power bucked the trend and grew by 3.1GW: the national wind turbine bidding capacity dropped by 26.6GW year-on-year

News summary

Wind power industry bidding capacity declines in 2024bingocalling, bidding for onshore wind turbines was reduced by 25%. Bidding for offshore wind turbines increased by 7%, and the average bid price for onshore wind turbines was 1460 yuan/kW.

Newsletter text

[Wind power market demand continues to slump]

Data shows that since the beginning of 2024, the cumulative bidding capacity of wind turbines in the domestic wind power market has shrunk significantly, with the total volume reaching 26bingocalling.6 GW, down 23% year-on-year.

Observed in market segments, the sharp drop in bidding capacity for onshore wind turbines is even more significant. The cumulative bidding capacity is 23.5 GW, a year-on-year decrease of as much as 25%.

Although the overall market showed a shrinking trend, the open bidding capacity of offshore turbines increased against the trend, reaching 3.1 GW, a slight increase of 7% year-on-year.

Specific to the winning bid price of onshore wind turbines (excluding towers), the average level in 2024 is 1460 yuan/kilowatt, reflecting certain pressure on cost control.

Looking back at the whole year of 2023, the cumulative total number of tenders for wind turbines nationwide reached 64.4 GW. However, compared with the current market performance in 2024, it can be seen that the wind power industry is facing an adjustment period.