HomeNewsGlobal orders of wind turbine capacity reach $16bn in Q2 - 2020

Global orders of wind turbine capacity reach $16bn in Q2 – 2020

A new study released by Wood Mackenzie states that the second quarter of 2020 saw more than 17GW of wind turbine capacity ordered globally.

This is equivalent to $16 billion generated in revenue during the period.

However, Q2 – 2020 saw global wind turbine order intake decreased by 45% when compared with Q2 2019.

Despite the year-on-year decline, Q2 2020 order intake still represented a solid haul and exceeded Q2 order intake for 2016, 2017 and 2018.

The US and China combined for a nearly 18GW drop in Q2 YoY order capacity. This follows a record 2019 where developers in these regions accumulated a robust backlog ahead of policy changes scheduled for the year ahead.

An increase in demand in countries such as the UK, the Netherlands and France helped to lift overall turbine order capacity despite a drop in the US and China.

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Global offshore order intake captured 38% – or 6.5GW – of all Q2 orders, which is an increase of 40% YoY.

Luke Lewandowski, Wood Mackenzie research director, said: “Chinese developers ordered more than 2GW of offshore turbine capacity for the sixth consecutive quarter, with Envision capturing 66% of Q2 demand in China.

“SGRE and MHI Vestas each landed more than a gigawatt of orders in Europe for new offshore turbine models rated over 10MW.

“This flurry of orders for 10 MW+ turbines in Q2 helped to lift the average rating of global offshore orders to 7.5MW.

“Developers continue to seek higher-rated onshore models to maximize site constraints, with SGRE Vestas and Nordex capturing all demand in Q2 for onshore models rated 5MW or higher.”