According to Bloomberg, Goldwind, China’s biggest wind turbine manufacturer, there is no more room for price reductions in the largest market after a significant drop in expenses.

In addition, Fitch said the average turbine bidding prices dropped by approximately 26% year on year by the end of 2021. The price reduction is continuing.

Wu Gang, Chairman of Xinjiang Goldwind Science & Technology, said that the price of wind turbines had reached the bottom. He added that manufacturers should focus on quality and long-term return on investment.

Moreover, after the government stopped financing projects at the end of 2020, the cost of wind turbines in China declined due to greater local competition.

Wu Gang informed that Goldwind focuses on larger models, specifically 7-megawatt onshore and a 15-megawatt offshore turbine for future development.

Sign up to receive our latest news!

By submitting this form, I agree to the terms.