A Chinese firm outlined plans to build the world’s largest floating wind turbine, cementing the country’s status as the dominant force in a sector that has otherwise grappled with high interest rates and supply chain challenges.
The two-headed turbine announced by an executive for Ming Yang Smart Energy Group would have a capacity of 50 megawatts, nearly twice as much as the biggest turbine currently on the market, Bloomberg reported. The country’s overall wind power industry is aiming to install at least 120 gigawatts of new turbines annually through 2030 — equivalent to double the amount of installed capacity per-year between 2020 and 2024.
For now, it is a rare bright spot in the wind power sector: China will account for around two-thirds of all of the sector’s capacity additions this year, according to Rystad Energy, a research firm.