This Flash Note from Make Consulting analyzes the impact of the new FITs on offshore market development in China. Opportunities for China’s offshore value chain, including the power producers, turbine OEMs, component suppliers and other relevant players in offshore wind sector, are also included. The Flash Note investigates potential offshore market spend and critical factors in offshore projects based on the new FITs.
Key points include:
•China has announced Feed-in Tariffs (FIT) of $0.12/kWh for intertidal offshore wind projects and $0.14/kWh for near-shore wind project
•The new offshore FITs are in line with MAKE’s Q2/MOU analysis and are valid through 2016 catalyzing the installation of offshore projects over the next two and a half years.
Make Consulting estimates more than 1.5 GW of offshore capacity will start construction in 2H/2014, a significant jump from the 43MW grid connected in 2013