The Chinese government has promised to intensify its efforts for further development of wind power industry to exploit its full potential and deal with issues like global warming and emissions.

Mr. Zhang Guobao, Director of the National Energy Administration, said that China would speed up its efforts for the development of wind power industry to fully exploit the wind resources, as reported by SteelGuru.

He further added that the Chinese government would back several big wind power equipment manufacturers to enable them compete with their foreign rivals. The government believes that the wind power industry has tremendous potential for growth if the available resources exploited in the right manner.

The Chinese new energy industry has posted outstanding growth over the recent few years. Wind energy made a marked change in its development path with doubled and redoubled for years in a row.

With these ongoing developments, China’s total wind power capacity touched the figure of 25.1 GW in 2009 - an increase from 12.1 GW in 2008. This has enabled the industry to get more than doubled for the fifth consecutive year.

Moreover, Wind energy has taken rapid strides forward in the backdrop of pollution free source of energy. The noticeable fact about China is its dependence on coal to meet power demand, but it is a big cause of concern regarding contribution to domestic air pollution and global warming. Therefore, the Chinese government has been taking necessary step to promote clean energy development, including wind power.

According to the industry estimates, China holds 2.6 Billion kW wind energy resources. However, the current installed capacity reaches 22 Million kW, exhibiting a wide scope for further development.

RNCOS, a market research firm, has projected in its report “China Wind Sector Analysis” that the Chinese cumulative wind power installed capacity will rise at a CAGR of nearly 43% during 2010-2012. The main reasons for prospective growth in the industry are rapid developments and strong government support.

According to a Research Analyst at RNCOS, “The Chinese wind power industry is at the nascent stage of development and possesses huge potential for future growth, particularly in the area of wind equipment manufacturing. The industry players need to focus more on technology in equipment manufacturing in order to gain maximum profits.”

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