Image Source: Interface Gallery

interface news reporter | ma yueran

At the moment of the "roll" price of the domestic industrial chain, exports have become a new opportunity for wind power and other new energy industrial chains.

recently, the statistical briefing on China's wind power hoisting capacity in 2023 released by the wind energy professional Committee of the China renewable energy society showed that China's wind turbine export reached a record high last year, with 671 new units exported throughout the year, with a capacity of 3665.1 MW (MW, 1 MW = 1000 kW), up 60.2 year on year.

Among them, 667 onshore wind turbines are exported, totaling 3651.6 MW; 4 offshore wind turbines are exported, totaling 13.5 MW.

China's wind turbine export capacity in the past ten years Source: Wind Energy Committee

Last year, six domestic complete machine manufacturers exported wind turbines to 18 countries. Among them, Jinfeng Technology (002202.SZ) has the largest export volume, with 327 wind turbines exported to 13 countries with a total capacity of 1704.7 MW. Vision Energy is exported to 5 countries with a total capacity of 278 units with a total capacity of 1624 MW.

The cumulative export volume of these two enterprises has opened a large gap compared with other enterprises. Last year's export volume ranked 3-6 enterprises are Yunda shares (300772.SZ), China's car (601766.SH), Sany Heavy Energy (688349.SH), Mingyang Intelligence (601615.SH).

Image source: Wind Energy Commission

the interface news reporter noted that jinfeng technology and long-term energy both exported the largest capacity and number of units to Uzbekistan, with the former exporting 324.3 MW and the latter 591.5 MW.

statistics from the wind energy committee also show that China exported wind turbines to 18 countries last year, with Uzbekistan accounting for about 25 per cent of the top five countries. Egypt, accounting for about 14.1 per cent; South Africa, accounting for about 9.4 per cent; Laos, accounting for 8.8 per cent; Chile, accounting for 7.9 per cent.

At present, the main exporting countries of China's wind turbines are countries along the "the belt and road initiative" route. Uzbekistan is an important fulcrum country for the construction of the "Belt and Road", and it also has the largest wind power project in Central Asia invested by Chinese enterprises.

After a brief trough in 2022, China's new wind power installations also returned to an upward trend last year.

In 2023, 14187 new installed units will be installed nationwide (except Hong Kong, Macao, and Taiwan), with a capacity of 79.37 million kilowatts, a year-on-year increase of 59.3 percent, a record high.

Among them, the newly installed capacity of onshore wind power is 72.19 million kilowatts, accounting for 91% of the total newly installed capacity, and the newly installed capacity of offshore wind power is 7.183 million kilowatts, accounting for 9% of the total newly installed capacity.

according to the data of the wind energy special Committee, by the end of 2023, the total installed capacity of the country will exceed 195000 units, totaling 474.6 million kilowatts, up 20% year on year.

The cumulative installed capacity on land is 436.9 million kilowatts, accounting for 92.1 per cent of the total installed capacity, and the cumulative installed capacity on sea is 37.7 million kilowatts, accounting for 7.9 per cent of the total installed capacity.

In terms of sub-regions, North China accounts for the highest proportion of newly installed capacity, exceeding 30%, followed by Northwest China, accounting for 27.5, and South China 15.8. Compared with 2022, the regions with an increase in the proportion of new installations in 2023 are Northwest and South China.

China-made fan capacity is still growing. In 2023, the average single-unit capacity of newly installed wind turbines in the country was about 5.6 MW, an increase of 24.6 year-on-year. By the end of last year, the cumulative installed capacity of wind turbines of 5 MW and above accounted for 22.5 per cent, an increase of about 10 percentage points over the same period last year.

Among the newly hoisted offshore wind turbines, the proportion of wind turbine assembly capacity with a single unit capacity of 10 MW or more will increase from 12.1 per cent in 2022 to 46.4 per cent.

in 2023, there will be a total of 15 complete machine manufacturers with new installed capacity of 79.37 million kilowatts in China's wind power market, with a total market share of 73.8 for the top five and 98.6 for the top ten.

Among them, the cumulative installed market share of the top five complete machine manufacturing enterprises is 60%, and the cumulative installed market share of the top ten complete machine manufacturing enterprises is 85.1.

jinfeng technology still occupies the leading position in the industry, with a cumulative installed capacity of more than 0.1 billion kilowatts, accounting for 22.7 of the total installed capacity in the domestic market. Vision Energy and Mingyang Intelligence accounted for 12.9 and 10.4 respectively. Yunda shares and electric wind power (688660.SH) accounted for 7.4 and 6.4 respectively.

The ranking of the wind energy committee shows that last year, China's wind power manufacturers added the top five new installations, namely Jinfeng Technology, Vision Energy, Yunda, Mingyang Intelligence and Sany Energy. The ranking is consistent with the Bloomberg New Energy Finance ranking, which was released in February.

in 2023, China's wind power manufacturers added installed capacity and proportion of picture source: wind energy committee

Judging from the top ten rankings, the eighth and ninth places on the list of the Wind Energy Committee are China Central Vehicle and China Marine Equipment, respectively. The rankings of the two companies on the Bloomberg New Energy Finance list are switched.

In onshore wind power, the top five total installed capacity accounted for 74%, and the top ten total installed capacity accounted for 98.4.

offshore wind power, Mingyang Intelligent added 287 new installed units, with a capacity of 2.941 million kilowatts, accounting for 40.9 percent, followed by Vision Energy, Electrical Wind Power, Jinfeng Technology, Yunda shares.

The current overall profitability of the wind power industry chain is not ideal. Under the background of large-scale wind turbines and intensified competition, the price of wind turbines continues to fall, and the profitability of related companies has declined significantly.

at the 2024 China wind energy spring tea party, Qin Haiyan, secretary-general of the wind energy professional Committee of the China renewable energy society, said that the average price of onshore wind turbines dropped from about 4000 yuan/kW in 2012 to 1500 yuan/kW in 2023, and the price of individual projects was below 1000 yuan/kW. The price of offshore wind turbines dropped from 6000 yuan/kW to more than 3000 yuan/kW.

Qin Haiyan said that the project with the winning price of 1000-1400 yuan/kW accounted for 17.1 percent of the total. Projects with a price of 1400-1900 yuan/kW account for about 65.7 percent. About 30% of the projects are invited for bidding, and the fans are at a loss.

In addition, due to the impact of fierce local competition, foreign wind turbine manufacturers in China almost no longer have new lifting capacity.