Xinjiang Goldwind Overtook Vestas as World’s Top Wind Turbine Producer in 2015, says GlobalData

Xinjiang Goldwind Science & Technology Co., Ltd. overtook Vestas Wind Systems as top global producer of wind turbines in 2015, managing to install 7.73 Gigawatts (GW), thanks to its stable development in the Chinese wind power sector and the rising demand for turbines, according to research and consulting firm GlobalData.

Expected adjustments to the wind energy Feed-in Tariff (FiT) in China have boosted development in this sector, resulting in Xinjiang Goldwind’s increased revenue over the year, and its move up from third place in the wind production rankings. The company also witnessed a considerable rise in the number of operational wind farm projects, which has further boosted the sale of wind power produced by these projects.

Ankit Mathur, GlobalData’s Practice Head for Power, says that: “Other companies have also been benefitting from the increased interest in wind power, and are not far behind Xinjiang Goldwind in terms of installations. Vestas installed 7.35 GW in 2015, and its revenues increased by 22% when compared to 2014, leaving it ranked highly in second place despite being knocked off the top spot.

“The company’s increased activity levels and earnings were due to the steady implementation of wind turbine and servicing order books that witnessed continuous growth because of favorable market environment. A strong global footprint also enabled the company to attain profitability in both mature and emerging markets.”

GlobalData also says that GE Power’s acquisition of Alstom’s renewable energy business unit has allowed the company to diversify its wind portfolio, with its presence in the European and Latin American regions. It installed 6.27 GW in 2015.

Subsequently ranked manufacturers in 2105 included Siemens AG with 5.03 GW, Gamesa Corporacion Tecnologica with 3.1 GW, and Enercon GmbH with 2.92 GW. Siemens is another company which was ousted from its 2014 ranking, moving from second to fourth, while Gamesa Corporacion Tecnologica moved up from eighth to fifth.

Mathur concludes: “All of these companies are making their mark in the wind turbine market with a number of different activities, including the introduction of innovative new turbine models, investment in international wind growth, and M&A activity.”