MAKE expects more than 79GW of wind power to be commissioned in Asia Pacific excluding China (APeC) from 2015 to 2024, where the three core markets of India, Australia, and Japan will constitute around 79% of all new installations.
New wind power capacity installations reached 3.7GW in 2014, matching the peak set in 2011 when India set a record 3GW of new capacity. Going forward with recovery in the three core markets, 2015 is set to be a record year for APeC with growth of 14% year on year. India remains the primary driver but other APeC markets will increase new capacity more than three-fold by the end of 2024. Australia and Japan will see contrasting outlooks largely driven by policy outcomes. New APeC markets in Central Asia and Southeast Asia contribute to regional growth. Offshore in APeC remains at a nascent stage with only 70MW installed.
