China Adds 75 GW Wind Power in 2023, Dominates Global Growth

• China added 75 GW of wind power in 2023, accounting for 65% of global capacity additions with a CAGR of 19.2%.
• The European Union aims to boost wind energy from 220 GW to 425 GW by 2030 but faces competition from cheaper Chinese turbines.
• The EU’s Wind Power Package seeks to protect the local industry amid concerns over Chinese market penetration and pricing.
• Despite challenges, Europe’s offshore wind investments hit a record $76.7 billion in 2023, but inflation and supply chain issues hinder growth.

Read the full article on Saur Energy.