Chinese developers are expected to speed up addition of wind power capacity to grid this year, ahead of planned easing of subsidies in 2021.
China, which is one of the top drivers for wind power globally, could add 251 Gigawatts of capacity to grid between 2020 and 2029, according to Wood Mackenzie. The wind power market in China could reach a cumulative grid connected capacity of 461GW by the end of the decade, the consultancy said.
“The combined impact from coronavirus and the rush to install new wind capacity before the end of subsidies, could cause the LCOE [levelised cost of electricity] for wind to rise 8 per cent to 472 RMB per megawatt-hour in 2020 compared to 2019," said senior consultant Xiaoyang Li.
"This will prevent onshore wind from meeting the government’s target for grid parity in 2021.”
China plans to end subsidies for new onshore wind schemes from the beginning of 2021 in an effort to allow it to compete with conventional power projects like coal and gas. The move comes as cost of generating power through solar or wind sources falls significantly.
More than 100GW of capacity spread across 25 wind bases is already planned and under construction in China.
The coronavirus pandemic, which began in China, affected 10 per cent of new capacity additions in 2020. However, developers are also racing to get projects off the ground before wind subsides begin to ease, Ms Xiaoyang said.
Wood Mackenzie forecasts new onshore wind capacity to decrease 21 per cent year-on-year in 2021 as subsidies reduce.
"The termination of subsidies could depress the market and hurt developer profitability in the short term,” said Ms Xiaoyang.
Wind is also expected to compete with solar power, which has outpaced the former in terms of growth.
Competition between the two renewable energy sources is set to intensify after 2026, when costs of both are expected to fall even below coal in regions with abundant wind currents and solar irradiation.
Squad
Ali Kasheif, Salim Rashid, Khalifa Al Hammadi, Khalfan Mubarak, Ali Mabkhout, Omar Abdulrahman, Mohammed Al Attas, Abdullah Ramadan, Zayed Al Ameri (Al Jazira), Mohammed Al Shamsi, Hamdan Al Kamali, Mohammed Barghash, Khalil Al Hammadi (Al Wahda), Khalid Essa, Mohammed Shaker, Ahmed Barman, Bandar Al Ahbabi (Al Ain), Al Hassan Saleh, Majid Suroor (Sharjah) Walid Abbas, Ahmed Khalil (Shabab Al Ahli), Tariq Ahmed, Jasim Yaqoub (Al Nasr), Ali Saleh, Ali Salmeen (Al Wasl), Hassan Al Muharami (Baniyas)
2018 ICC World Twenty20 Asian Western Sub Regional Qualifier
Event info: The tournament in Kuwait this month is the first phase of the qualifying process for sides from Asia for the 2020 World T20 in Australia. The UAE must finish within the top three teams out of the six at the competition to advance to the Asia regional finals. Success at regional finals would mean progression to the World T20 Qualifier.
UAE’s fixtures: Fri Apr 20, UAE v Qatar; Sat Apr 21, UAE v Saudi Arabia; Mon Apr 23, UAE v Bahrain; Tue Apr 24, UAE v Maldives; Thu Apr 26, UAE v Kuwait
World T20 2020 Qualifying process:
- Sixteen teams will play at the World T20 in two years’ time.
- Australia have already qualified as hosts
- Nine places are available to the top nine ranked sides in the ICC’s T20i standings, not including Australia, on Dec 31, 2018.
- The final six teams will be decided by a 14-team World T20 Qualifier.
World T20 standings: 1 Pakistan; 2 Australia; 3 India; 4 New Zealand; 5 England; 6 South Africa; 7 West Indies; 8 Sri Lanka; 9 Afghanistan; 10 Bangladesh; 11 Scotland; 12 Zimbabwe; 13 UAE; 14 Netherlands; 15 Hong Kong; 16 Papua New Guinea; 17 Oman; 18 Ireland
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
