China to stop knocking the wind out of the turbine as grid construction picks up

摘要

With much wind taken out of its sails in the past years, experts expect Chinas turbine industry to get its second wind soon. Nomura analyst Joseph Lam believes the curtailment of wind power will improve this year as China's grid construction picks up. "Wind-power generation output maintained its strong growth at +36.3% y-y in 2013 (2012: +35.5% y-y). We expect wind farm operators such as Longyuan, Huaneng RE, and Datang RE to maintain robust output growth in the medium-term on the back of Chinas wind capacity target of 200GW by 2020F,'' Lam, citing Chinas Wind Energy Development Roadmap, adds.