Library filed under General from Asia
China boasts the world's largest wind power capacity, but a third of it sits idle as renewable energy is a money-losing business for grid operators and network construction has lagged capacity expansion. As a result, China struggles to transmit electricity from generating zones in the northwest, north and northeast to population hubs in the south and east.
Japan is currently devising long term plans to get a handle on its energy crisis but, while renewable energy will certainly play a role, the country is in no position to drop nuclear energy entirely. The debate over the best option for both the Japanese people and the Japanese economy is expected to continue throughout 2012 as the nation's politicians work to find a realistic and sustainable energy solution.
The global economic slowdown has dented investment in wind power, while cutthroat market competition has forced turbine prices down, weighing heavily on the industry's profitability, Sinovel said.
China's intensified grid-access management and stricter project approval policy have reduced both the number of wind farms being built and their speed of construction, said the report.
The decision is a "positive step," Daniel Pickard, a lawyer with Wiley Rein LLP in Washington who represents the coalition, said in a phone interview. The finding is "where we expected it to be," he said. Broadwind deferred all comments to Pickard. Broadwind closed little changed at 29 cents in Nasdaq Stock Market trading, and rose as much as 9.5 percent after the announcement. The shares are down 57 percent this year.
Suzlon's foreign currency bonds (FCCB), which is the money being raised by the issuing company in the form of a foreign currency, are due for repayment in June and this caused significant concern amongst investors as the company's financial performance is not up to the mark.
The Chinese premier says the government will promote strategic emerging industries, but emphasises that it will also "put an end to blind expansion in industries such as solar energy and wind power". Dave Dai, analyst at Daiwa Securities, believes the government was referring specifically to oversupply in the wind and solar equipment sectors.
Sinovel's rapid growth has been accompanied by a decline in market share ...shares of Sinovel now sell for 50% of the price they fetched when the dispute with AMSC became public; the company enters this year under financial pressure; this pressure has necessitated Sinovel to return to financial markets to supplement its working capital, despite a blockbuster IPO in 2011.
But Trinity claims that Suzlon failed to take delivery of its obligated number of wind towers in 2010 and 2011. Suzlon has also not secured 2012 and 2013 production space for its obligated purchase of wind towers, the company said.
Li Qinghai, an engineer with the Water Statistics Bureau in Xilingol League, said the precipitation data collected by the bureau showed that adjacent to big wind farms there was an obvious decline in annual rainfall since 2005 - in some areas by as much as 80 per cent. "The issue is often overlooked as much of Inner Mongolia is suffering an unprecedented drought," he said. "But after spending more than two decades studying the rise and fall of water levels in the region, I have a strong feeling that the wind turbines are playing a disruptive, if not destructive, role in this, because the droughts in these areas developed much faster than in the turbine-free regions."
Liu Qi, Deputy Director of the National Energy Administration (NEA), said, "The accidents took place partly because we had emphasized the construction of wind farms on a large scale but neglected product quality and management." After these accidents, SERC carried out a comprehensive check of the wind power farms nationwide in August, focusing on the safety management.
Sinovel adds that "macroeconomic cyclical fluctuations as well as delays to some project approvals impacted sales revenues and also caused a relatively large increase in management costs". Management costs went up 78% to 288m yuan.
Tokyo Electric Power Co will sell part of its stake in Japan's biggest wind power developer, the troubled utility said on Tuesday, as it looks to raise funds to compensate those affected by the ongoing crisis at its crippled Fukushima nuclear plant.
The blade became detached from the G5X-850 850kW turbine earlier this week. Reports suggest the stray component hit a transmission line. The turbine was installed around three years ago and is part of a wind farm in southern India operated by Pioneer Wincon.
Following five successive years of impressive growth, China's wind power sector saw its growth rate decline to 37 percent in 2010. ...the rapid development of the wind power market has led to excessive competition and accelerated formation of a bubble.
"We faced a difficult pricing environment in our primary wind power market, resulting in margin pressure and lower sales volume." Though China has been consistently installing wind, global markets have slowed due to financial concerns and turbulent regulatory environments.
SERC said on Wednesday that the inspections, which will run all month, will include wind farm safety management, operations, grid connections and the actual wind turbines. The move follows four massive incidents in Jiuquan, Gansu province, one of the most important wind power bases in China.
"The Inner Mongolia Grid has reached its upper limit in accepting wind power for local consumption. The only solution is to send out wind power over long distances and integrate it into the much larger State Grid. This is hard to do because we do not yet have a concrete method of transmitting wind power."
China's National Energy Bureau (NEB) is seeking to rein in the country's overheated wind power industry through the introduction of new regulations to standardise the examination and approval of small wind farm projects.
Tokyo Electric Power Company (TEPCO) is limiting generation from renewable plants (including wind) to 5% of their installed capacity. ...Hokkaido Electric Company [is] also capping wind farm contributions to 5% of their capacity. In addition, Arakawa acknowledged that "small [wind farms] across the country are disconnected" and that these are unlikely to rejoin the electricity network until the nuclear crisis is stabilized.