Japan, Taiwan and South Korea to Focus on Offshore Wind, Report Says

MAKE’s 2014 inaugural APeC Wind Power Outlook 2014 is now available.

Japan, Taiwan and South Korea to Focus on Offshore Wind, Report Says

The 65-page report contains over 85 charts, tables and graphs providing in-depth analysis of 10+ markets in the region. The report studies key drivers and barriers for new wind power installations in Asia Pacific (excl. China), regional macro conditions, regulatory frameworks as well as 10-year market outlooks for each market.

Key Points:

  • 69GW of new wind capacity to be commissioned in APeC markets over 2014-2023
  • India, Japan and Australia to account for for 77% of all new capacity over the next ten years
  • Attractive FITs in emerging markets such as Pakistan, the Philippines and Thailand boost wind development
  • New technological improvements unlock potential in low wind speed markets in Southeast Asia
  • Japan, Taiwan and South Korea to focus on offshore wind to fulfil their future energy demands

A GDP growth rate close to 6% per year for the next five years, an average 78% consumption of fossil fuels leading to energy imports, positive policy support and technological advances create strong drivers for wind power prospects in the Asia Pacific excluding China (APeC) region.

Press release, August 20, 2014; Image: Siemens (Illustration)