Goldwind Science & Technology Co. Ltd. Class A SZSE:002202
Goldwind Science&Technology : 2025 First Quarter Results Presentation
Source: MarketScreener
2025 First Quarter Results
Industry Review
Business Review Financial Results
Global Wind Power Market
Global Annual New Installation (GW)
3
2024 New Installation（GW）
Onshore | Offshore | |
114.07
6.5
88.1
17.0
107.6
71.1
76.7
9.1
67.6
117.0
11.1
105.9
121.6
11.7
109.9
China
Mainland
US
Brazil
Germany
India
Netherlands
France
China
Taiwan
Finland
Spain
79.5 | 6.1 | 85.5 |
5.4
4.2
3.9
3.3
2.1
1.9
1.8
1.4
1.2
2020 | 2021 | 2022 | 2023 | 2024 |
Australia
Onshore Offshore
1.1
- Global new installations in 2024 achieved 121.6GW, an increase of 3.9% yoy, with onshore wind of 109.9GW ， an increase of 3.7% yoy, and offshore wind totaling 11.7GW, an increase of 6% yoy.
- China Mainland's booming wind market underpinned the strong growth, with 85.5GW of new capacity added, accounting for 70% of global new build, and surpassed the second largest market, the United States (5.4GW), with nearly 80GW. Brazil kept the third place in the ranking, with an installed capacity of 4.2GW in 2024.
Note: data from Bloomberg New Energy Finance.
4
Wind Power Development in China
Grid Connection (GW) | Electricity Production (billion kWh) | ||||
New Grid-connection | Cumulative Grid-connection | Wind Power Production | Penetration Rate | ||
9.6% | 10.1% | ||||||
521 | 535 | ||||||
8.8% | 991.6 | ||||||
441 | 7.9% | 885.8 | |||||
365 | 762.4 | ||||||
652.6 | |||||||
75.7 | 79.8 | ||||||
37.6 | 14.6 | ||||||
2022 | 2023 | 2024 | 1Q25 | 2021 | 2022 | 2023 | 2024 |
- In 1Q25, China recorded 14.6GW of new grid-connection, a decrease of 5.7% yoy.
- As of the end of 1Q25, China's cumulative grid-connected wind power capacity totaled 535.4GW, taking 15.6% in China's power mix. Meanwhile, thermal power declined to 42.3%.
- In 2024, China's total power consumption was 9,852.1 billion kWh, an increase of 6.8% yoy. 991.6 billion kWh of wind power production represented an increase of 16% yoy , and a penetration rate* of 10.1%.
- In 2024, National average wind power utilization rate was 95.9%. The utilization rate of wind power in 6 provinces and cities, including Shanghai, Jiangsu, Zhejiang, Anhui, Fujian and so forth has reached 100%, respectively.
- In 1Q25, China's total power consumption reached 2,384.6 billion kWh, an increase of 2.5% yoy.
Note: data from National Energy Administration and China Electricity Council. *Wind Penetration rate=wind power production/total power consumption.
China Public Tender Market
Public Tender Market (GW)
164.1
98.5
86.3
54.2
28.6
2021 | 2022 | 2023 | 2024 | 1Q25 |
- Domestic public tender market totaled 28.6GW in 1Q25, representing 22.7% yoy increase.
- Onshore public tender totaled 27.8GW and offshore totaled 0.8GW.
5
Average Bidding Price (Rmb/kW)
1,590
1,542
1,403 | 1,516 |
1,414
- In March 2025, the overall average bidding price of all WTG suppliers in the market recorded Rmb 1,590 /kW.
Note: data from public information.
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