Wood Mackenzie Research: Over $16 Billion Of Wind Turbine Capacity Ordered In Q2 2020

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The second quarter of 2020 saw more than 17 GW of wind turbine capacity ordered globally. This equates to an estimated $16 billion, according to new analysis from Wood Mackenzie.

As noted in Wood Mackenzie’s research, Q2 2020 global wind turbine order intake decreased 45% when compared with Q2 2019.
Despite this YoY decline, Q2 2020 order intake still represented a solid haul and exceeded Q2 order intake for 2016, 2017 and 2018.

The US and China combined for a nearly 18 GW drop in Q2 YoY order capacity. This follows a record 2019 where developers in these regions accumulated a robust backlog ahead of policy changes scheduled for the year ahead.

A wave of offshore demand in the second quarter of this year, located in countries such as the UK, the Netherlands and France, helped to lift overall turbine order capacity despite a drop in the US and China. Global offshore order intake captured 38% – or 6.5 GW – of all Q2 orders, which is an increase of 40% YoY.

“Chinese developers ordered more than 2 GW of offshore turbine capacity for the sixth consecutive quarter, with Envision capturing 66% of Q2 demand in China.

“SGRE and MHI Vestas each landed more than a gigawatt of orders in Europe for new offshore turbine models rated over 10 MW.

“This flurry of orders for 10 MW+ turbines in Q2 helped to lift the average rating of global offshore orders to 7.5 MW.

“Developers continue to seek higher-rated onshore models to maximize site constraints, with SGRE Vestas and Nordex capturing all demand in Q2 for onshore models rated 5 MW or higher,” said Luke Lewandowski, Wood Mackenzie Research Director.

SGRE edged ahead of Vestas for announced global wind turbine order intake in Q2, for both onshore and offshore, reaching 4.1 GW.

“Although SGRE topped the list for overall global turbine order intake, Vestas’ V150-4.2 won top onshore model for consecutive quarters after a particularly strong Q2 in Asia Pacific excluding China.

“In the offshore sector, Envision’s impressive haul in Q2 for its EN-161 5.2 model led to the company taking top spot for Q2, coming in slightly ahead of SGRE,” added Lewandowski.

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