Longyuang expects to overtake the Spanish utility, Iberdrola, which currently occupies top spot in the wind energy rankings with over 12 GW to its name.
Longyuan is currently the fifth largest wind power operator in the world with about 4,500 megawatts (MW) in service, compared to Iberdrola’s 12 GW. Over the next five years, the Chinese company plans to invest approximately €13 billion to take its total installed capacity to over 16 GW, mainly in China, but also in other countries.
Longyuan estimates that it installed approximately 1,000 Mw of capacity between 1 January and 30 November 2010, while it plans to install more than 2 GW of new capacity in 2001 alone. According to Reuters, before the end of 2012, Longyuan expects to boast 11 GW.
The daily newspaper, China Daily, quotes the company’s Chairman, Xie Changjun as saying: "China has used only one percent of its estimated wind resource, and there is huge potential for future growth, we are investigating opportunities overseas including South Africa, United States, Australia and Europe".
Meanwhile, another Chinese publication, the People's Daily, reported yesterday that Longyuan will invest 3 billion yuan ($450 million) in overseas expansion next year, with three wind projects in the United States already under negotiation. "We will make a big move into the US wind power industry next year," Jie Changjun, Longyuan's General Manager, told the People's Daily. "The US market will definitely be important to our future development strategies."
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