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Wind Investment Hotspots: Outperformers And Markets To Watch

Fitch Solutions Sector Intelligence  


    THIS COMMENTARY IS PUBLISHED BY FITCH SOLUTIONS COUNTRY RISK & INDUSTRY RESEARCH and is NOT a comment on Fitch Ratings' Credit Ratings. Any comments or data are solely derived from Fitch Solutions Country Risk & Industry Research and independent sources. Fitch Ratings analysts do not share data or information with Fitch Solutions Country Risk & Industry Research.

    Wind Investment Hotspots: Outperformers And Markets To Watch

    • 06 Jun 2022
    • Global
    • Renewables

    Key View

    • In this biannual report, we highlight Germany and United Kingdom as our wind power sector outperformers, as the third and fifth largest markets in terms of installed wind capacity over our 10-year forecast period to 2031.
    • South Korea is our wind power 'market to watch', due to the rapid growth of wind capacity and support for a burgeoning offshore wind pipeline, which poses large upside risks to our outlook.

    Renewables Outperformers And Markets To Watch

    Global - Renewables Hotspots By Technology

    Source: Fitch Solutions

    We have identified two outperforming wind power investment destinations, and one key market to watch over the coming years, for this version of our Global wind Power bi-annual report.

    Headline Forecasts And Rationale, By Country
    Outperformers Germany Germany's renewable targets have increased significantly following new government policy aimed at expanding wind capacity auctions towards the end of the decade. The government has also increased its offshore wind target and is reducing permitting time. 64,671MW 115,775MW 5% 6.20%
    United Kingdom The UK's latest energy policy has drastically improved the outlook for offshore wind with higher capacity targets and an easing of deployment processes. 27,974MW 67,683MW 11.80% 6.64%
    Market To Watch South Korea The South Korean wind sector will experience strong and rapid growth from a low base with vast upside risks developing from large offshore wind projects in planning. 1,708MW 8,944MW 15.60% 18.25%
    Note: *Short-term outlook = annual average growth over 2021 and 2022, long-term outlook = annual average growth between 2021 and 2030; f = Fitch Solutions Forecast. Source: EIA, IRENA, national sources, Fitch Solutions


    We define 'outperformers' as those wind power markets that have a significant capacity base installed, and/or will register substantial growth in capacity over our 10-year forecast period to 2030.

    Global Wind Power: Outperformers
    Wind Capacity By Country, MW (LHS) & y-o-y % Growth (RHS)

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