Asia Pacific Wind Power Markets and Strategies, 2006-2015

Table of Contents

Section 1. Executive Summary: Asia Pacific-Wind Power' s New Frontier

• 1.1 Asia Pacific Wind Power Market Forecasts to 2015
  • Multiple Markets Progress Along Learning Curve in Boom Period
  • Three Tiered Asia Pacific Growth Driven by China and India
  • Region Sees Explosive Post 2002-Scaling Up
• 1.2 Wind Power Project Development Competition in Asia
  • Turbine Suppliers Crucial to Regional Development,Value Chain Structure Evolving
  • Scaling Up National Champions Lead Ownership Rankings
  • Long-Term Pipelines Indicate Chinese Leadership
• 1.3 Wind Power Supply Competition in Asia Pacific
  • Local and Foreign Suppliers Respond to Boom with Production Build Up
• 1.4 Outlook: Local Boom Gives Way to Sustained International Build

Section 2. Asia Pacific Wind Power Market Environment

• 2.1 Global Policy Trends
  • National Interests Trump Global Renewables Policies
• 2.2 Regulatory Support of Wind Power in Asia Pacific
  • Developed Economies Implement Quotas, Developing
  • Countries' Systems Evolving
  • Quota Systems Use RECs in Liberalized Markets, or
  • Central State Control in Others
  • Carbon Reduction Measures in Developed Countries May
  • Tip the Balance
  • Incentive Duration Key to Market Stability
• 2.3 Wind Energy Resources
• 2.4 Site Approval
  • Power Demand Drives Permitting Processes
  • Smaller and More Developed Countries Face NIMBY and
  • Space Issues
• 2.5 Grid Connection
  • Capacity Problems Arise in More Developed Countries
  • Developing Countries with Weak Grids Struggle to Meet
  • Demand
• 2.6 Asia Pacific Wind Power Market Environment Ranking
  • 2.6.1 Ranking Criteria Definition
    • Wind Resources
    • Regulatory Incentives
    • Site Approval
    • Grid Connection
    • Competition
  • 2.6.2 Ranking Results
    • Tier 1: China' s Surging Growth Set to Continue
    • Tier 2: Faltering Political Will Signals a Shift in the Middle Ground
    • Tier 3: Countries Aim to Create Markets

Section 3. Wind Power Capacity Market Forecasts

• 3.1 Wind Power Capacity Market Forecasts
  • India, China Driving Major Growth Forward
  • Smaller Markets Seeing a Mix of Rising and Flattening Growth
  • Offshore Easing Forward with R&D, No Major Build Near Term
  • Asia Pacific Wind Power Capacity Growth 2006-2015
  • 3.1.1 Wind Power Capacity Forecasts by Country
    • Asia Pacific Led by Tier 1 Growth Motors India, China
      • Local Production to Feed China' s Booming Demand
      • India Gradually Transitioning to Consolidated, IPP Growth
    • Tier 2 Mid-Sized Forecast Markets Slowing as Regulatory Support Lags
      • Australia Slows with MRET End
      • Utility Resistance, Low RPS Goals Limit Japan Demand
    • Tier 3 Forecast Markets New Zealand, South Korea, and
      • Taiwan to Grow Steadily from Small Base
      • New Zealand' s Wind Becoming Increasingly Cost Competitive
      • Korea Tapping Smaller Sites, Set to Move Offshore
      • Taiwan to See Steady Build-out of Small Sites
      • Following Indian Example, Pakistan will Take Time to Flex its Muscles
      • The Phillipies Proves Itself Slowly
    • Nine Countries Combined to Reach 50 GW Total by 2015
  • 3.1.2 Trends and Forecasts in Wind Farm Size
  • 3.1.3 Asia Pacific Offshore Wind Power, 2005-2015

Section 4. Asia Pacific Wind Power Market Competitive Analysis

• 4.1 Wind Power Project Pipeline and Development Activity
  • 4.1.1 Wind Power Ownership Trends
  • 4.1.2 Local vs. Foreign Ownership
  • 4.1.3 Developer, IPP Wind Market Share Analysis
  • 4.1.4 Utility Market Share Analysis
  • 4.1.5 Long-Term Outlook
• 4.2 Wind Turbine Competitive Analysis
  • 4.2.1 WTG Market Share Analysis
    • Suzlon
    • Vestas
    • Enercon
    • Gamesa
    • Goldwind
    • GE Energy
    • Mitsubishi
    • Other European Suppliers
    • Other Local Players
  • 4.2.2 Product and Technology Strategies
  • 4.2.3 Distribution and Production Strategies
  • 4.2.4 Value Chain Positioning
  • 4.2.5 Supply Chain Analysis
  • 4.2.6 Long-Term Outlook

Section 5. India-Asia Pacific Wind Power Leader

• 5.1 Market Environment
  • 5.1.1 Regulatory Policy
    • Incentive Scheme 1: Fiscal Incentives
    • Incentive Scheme 2: Technology Upgrade Fund
    • Incentive Scheme 3: Renewable Portfolio Standards (RPS)
    • Policy Results: Set for Large Scale Growth
  • 5.1.2 Wind Resource
  • 5.1.3 Permitting
  • 5.1.4 Grid Connection
• 5.2 Project Development
  • 5.2.1 Wind Development Value Chain
  • 5.2.2 Project Pipelines
  • 5.2.3 Ownership Trends
    • WTG Suppliers Driving Development in India
    • SEBs Serve as Risky Wind Off-Takes
    • State Generator Firms Slow to Enter
    • IPPs and Financial Players Emerging
      • TataPower
      • Reliance Energy
      • Essar Power
      • Aban Energies
      • Subuthi Investments
      • Ashok Leyland Finance
      • Shriram Investments
      • Tata Finance
• 5.3 Turbine Supply
  • 5.3.1 Turbine Market Share
    • Suzlon
    • Vestas RRB
    • Enercon India
    • GE Wind, Gamesa, and NEPC
  • 5.3.2 Local Production
  • 5.3.3 Vendor Strategies
    • Turbine Suppliers Business Models Stress Local Content
    • Domestic Suppliers
      • Suzlon Energy
      • NEPC India
      • TTG Industries
    • Joint Ventures
      • Enercon India
      • Vestas RRB
      • Gamesa Pioneer
    • Foreign Entrants
      • Vestas India
      • GE Energy India
• 5.4 Outlook

Section 6. China-Emerging Regional Leader

• 6.1 Market Environment
  • 6.1.1 Regulatory Policy
    • Targets Set for Sustained Growth
    • Renewable Energy Law Redefines Development
    • NDRC Concessions Initiate State-Run Industry Transition to Market
  • 6.1.2 Wind Resource
  • 6.1.3 Permitting
  • 6.1.4 Grid Connection
• 6.2 Project Development
  • 6.2.1 Wind Development Value Chain
    • Value Chain Shifts Inevitable as Market Rides Learning Curve
  • 6.2.2 Project Pipelines by Developer
  • 6.2.3 Ownership Trends
    • State Generator Demand Drives Industry Forward
      • China Long Yuan Electric Power Group
      • Hua Neg Neng New Energy Corporation
      • Da Tange Energy Corporation
      • China Power Investment Corporation (CPI)
      • Hua Dian Energy Corporation
      • Guo Hua Energy Corporation
      • Da Tang Energy Corporation
      • China Energy Conservation Investment Corporation (CECIC)
      • China Guandong Nuclear Energy
    • Chinese IPPs Stepping in via Partnerships,Concessions
    • China Light and Power (CLP)
    • Asia Power Corporation
    • Hong Kong Construction
  • Heilongjiang Hua Fu Electric Power Investment Limited Company
    • The Hua Rui Group
    • Foreign Players Angle for China Expansion
    • Iberdrola
    • Acciona
    • Airtricity
    • Korea Electric Power Corporation
    • Shell
• 6.3 Turbine Supply
  • 6.3.1 Turbine Market Share
  • 6.3.2 Local Production
  • 6.3.3 Vendor Strategies
    • Turbine Production Scales Up, Local Content Increasing
    • Turbine Suppliers Employing Four Models, Ratcheting
      • Up Local Content
    • Wholly Owned Suppliers
    • Joint Ventures
    • Technology Licensees
• 6.4 Outlook

Section 7. Australia-Developing Market Facing Uncertainty

• 7.1 Market Environment
  • 7.1.1 Regulatory Uncertainty
    • Federal Support
    • State-Based Support
    • Policy Results: Market Boom with No Encore
  • 7.1.2 Wind Resource
  • 7.1.3 Permitting
  • 7.1.4 Grid Connection
• 7.2 Project Development
  • 7.2.1 Wind Development Value Chain
  • 7.2.2 Project Pipelines by Developer
  • 7.2.3 Ownership Trends
    • Utilities Dabble in Wind to Cover Obligations,Diversify Generation
      • AGL
      • Original Energy
    • Traditional IPPs Reassess Wind Participation
      • International Power (IP)
      • Stanwell Corporation
      • Tarong Energy
      • Verve Energy
      • Delta Electricity
    • At a Stand Still at Home, Experienced Players Set Sail for More Abundant Lands
      • Roaring 40s
      • Babcock & Brown Wind Partners (BBWP)
      • Pacific Hydro
      • Acciona Energia (Oceania)
      • Wind Hydrogen Ltd
    • Pure Players Hang On Through Uncertainty
      • Wind Prospect
      • RES Southern Cross
      • Wind Power Pty
      • Other Developers
• 7.3 Turbine Supply
  • 7.3.1 Turbine Market Share
  • 7.3.2 Local Production
  • 7.3.3 Vendor Strategies
    • Vestas Leverages Local Positioning, Competition Picks Off Occasional Projects
• 7.4 Outlook

Section 8. Japan-Developed Market Facing Uncertainty

• 8.1 Market Environment
  • 8.1.1 Regulatory Policy
    • Electricity Utilities Law
    • Renewable Portfolio Standard
    • Direct Financial Support
    • Policy Results: Unambitious Targets Result in Low
      • Uptake Contrary to Goals
  • 8.2.1 Wind Development Value Chain
  • 8.2.2 Project Pipelines by Developer
  • 8.3.3 Ownership Trends
    • IPPs Leverage Positioning to Execute Larger Pipelines
      • Eurus Energy
      • TEPCO
      • Toyota Tsusho
      • J-Power
    • Marubeni
    • Small Engineering and Devleopers Tap Out Local
    • Potential
      • Japan Wind Development Co
      • Ecopower
      • Clean Energy Factory
• 8.3 Turbine Supply
  • 8.3.1 Turbine Market Share
    • Vestas
    • REPower
• GE Energy
  • Lagerway
  • 8.3.2 Local Production
  • 8.3.3 Vendor Strategies
    • Local Producers
      • Mitsubishi
      • Ebara
      • Subaru
      • JSW and Harakosan
    • Foreign Entrants
      • Vestas NEG Micon
      • GE Energy
      • Siemens
      • Gamesa
      • Enercon
      • Nordex, REPower, and EU Energy
• 8.4 Outlook

Section 9. South Korea-Challenged Local Market Aiming for Scale

• 9.1 Market Environment
  • 9.1.1 Regulatory Policy
    • Feed-in Tariff
    • Installation Subsidy
    • R&D
    • Soft Loans
    • Clean Development Mechanism
  • 9.1.2 Wind Resource
  • 9.1.3 Permitting
  • 9.1.4 Grid Connection
• 9.2 Project Development
  • 9.2.1 Wind Development Value Chain
  • 9.2.2 Project Pipelines by Developer
  • 9.2.3 Ownership Trends
    • Private Construction Companies
      • Unison
      • POSCO
      • Dongkuk S&C
    • State Generating Companies
      • KEPCO
      • KOSPO
      • Korea Midleand Power (KOMIPO)
      • Korea South East Power (KOSEP)
      • Korea Western Power (Western)
      • Korea East-West Power (EWP)
• Overseas Development Companies
  • Eurus
  • Marubeni
• 9.3 Turbine Supply
  • 9.3.1 Local Production
  • 9.3.2 Vendor Strategies
    • Local Producers Gearing Up
      • Unison
      • Hyosung
      • Hanjin
      • Dooson
    • Foreign Entrants
      • Vestas NEG-Micon
      • Suzlon
      • Other Small Suppliers
• 9.4 Outlook

Section 10. New Zealand-World Class Resource Driving Project Growth

• 10.1 Market Environment
  • 10.1.1 Electricity Market
  • 10.1.2 Wind Resource
  • 10.1.3 Permitting
  • 10-1.4 Grid Connection
• 10.2 Project Development
  • 10.2.1 Wind Development Value Chain
  • 10.2.2 Project Pipelines by Developer
  • 10.3.3 Ownership Trends
    • Local Utilities Positioned to Dominate
      • Meridian
      • TrustPower
    • Genesis
    • Mighty River Power
  • Dedicated Developers Test the Waters: Only the Windiest Sites will Survive
    • Power Coast
    • Roaring 40s
    • Ventus
    • Unison
    • NZ Windfarms
    • Windfarm Developments
  • Australian Finance Groups Bring Wind Experience
    • Babcock & Brown
    • Allco
    • Investec
• 10.3 Turbine Supply
  • 10.3.1 Turbine Market Share
  • 10.3.2 Local Production
  • 10.3.3 Vendor Strategies
    • Vestas
    • Windflow
• 10.4 Outlook

Section 11. Other Markets-Sporadic Project Opportunities to Emerge

• 11.1 Pakistan-Evolving Towards Large Scale Launch
  • 11.1.1 Pakistan Market Environment
  • 11.1.2 Pakistan Regulatory Policy
  • 11.1.3 Pakistan Wind Resource
  • 11.1.4 Pakistan Grid Connection
  • 11.1.5 Pakistan Power Demand
  • 11.1.6 Pakistan Development Activity
    • New Park
    • Green Park
    • Tanaga
    • Acess Energy
  • 11.1.7 Pakistan Turbine Supply
    • GE
    • NBT AS
    • Fuhrlander
  • 11.1.8 Pakistan Market Outlook
• 11.2 The Philippines-Sporadic CDM Opportunity
  • 11.2.1 The Philippines Market Overview
  • 11.2.2 The Philippines Regulatory Policy
  • 11.2.3 The Philippines Wind Resource
  • 11.2.4 The Philippines Grid and Demand
  • 11.2.5 The Philippines Development Activity
  • 11.2.6 The Philippines Turbine Supply
  • 11.2.7 The Philippines Market Outlook
• 11.3 Taiwan-Limited But Growing Opportunity
  • 11.3.1 Taiwan Market Environment
  • 11.3.2 Taiwan Wind Resource
  • 11.3.3 Taiwan Grid Connection
  • 11.3.4 Taiwan Regulatory Policy
  • 11.3.5 Taiwan Development Activity
    • Taipower
    • InfraVest
  • 11.3.6 Taiwan Turbine Supply
  • 11.3.7 Taiwan Market Outlook

LIST OF EXHIBITS

Section 1. Executive Summary: Asia Pacific-Wind Power' s New Frontier

• 1-1: Wind Power Market Maturity in Asia Pacific Countries
• 1-2: Wind Power Capacity Net Additions by Country,2000-2015
• 1-3: Asia Pacific Wind Power Projects by Size, 2000-2015
• 1-4: Chinese Utilties, Indian Captive Generators Lead Market Build
• 1-5: Asia Pacific Wind Farm Ownership Evolution
• 1-6: Asia Pacific Markets General Value Structure
• 1-7: Top 20 Asia Pacific Wind Players, MW Owned
• 1-8: Wind Power Project Pipelines, 2006-2009
• 1-9: Asia Pacific Vendor Market Share Annual MW Installed 2000-2005
• 1-10: Major Asia Pacific Manufacturer Locations

Section 2. Asia Pacific Wind Power Market Environment

• 2-1: Wind Power Market Evaluation Components
• 2-2: Wind Energy Targets
• 2-3: Renewables Regulatory Mechanisms
• 2-4: 2006 Production Incentives in Asia Pacific
• 2-5: Onshore Wind Resources in Asia Pacific
• 2-6: Site Approval Process in Asia Pacific
• 2-7: Grid Connection in Asia Pacific
• 2-8: Asia Pacific Market Attractiveness: Ranking Overview

Section 3. Wind Power Capacity Market Forecasts

• 3-1 Asia Pacific Wind Power Markets Summary, Annual Installations (MW)
• 3-2 Wind Power Capacity in Service, 2000-2015
• 3-3 Onshore and Offshore Wind Power Capacity in Service, 2000-2015
• 3-4 Wind Power Market Maturity in Asia Pacific Countries
• 3-5 Wind Power Capacity Net Additions by Country, 2000-2015 (MW)
• 3-6 Wind Power Capacity Total by Country, 2000-2015 (MW)
• 3-7 New Asia Pacific Wind Projects by Size, 2005
• 3-8 Asia Pacific Wind Power Projects by Size, 2000-2005 (MW)
• 3-9 Asia Pacific Wind Power Projects by Size, 2006-2015
• 3-11 Asia Pacific Offshore Wind Capacity Added, 2006-2015

Section 4. Asia Pacific Wind Power Market Competitive Analysis

• 4-1 Asia Pacific Wind Power Pipelines Comparison 2006-2009
• 4-2 Top 20 Asia Pacific Wind Power Owners
• 4-3 Asia Pacific Wind Ownership 2005-2006
• 4-4 Asia Pacific Wind IPP Portfolio Comparison
• 4-5 Asia Pacific Wind IPP Strategy Positoning
• 4-6 Asia Pacific Utility MW Owned Comparison
• 4-7 Asia Pacific Utility Strategy Positioning
• 4-8 Asia Pacific Market Share, Total MW Installed 2000-2005
• 4-9 Asia Pacific Market Share by Country, 2005 Shipped
• 4-10 Major Asia Pacific Turbine Supplier Product Portfolios
• 4-11 Top Turbine Supplier 2005 Shipment Split by Turbine Size
• 4-12 Asia Pacific Turbine Supplier Manufacturing Presence
• 4-13 Major Turbine Supplier Capacity Expansions in Key Markets
• 4-14 Asia Pacific General Value Chain Structure by Country
• 4-15 Major Turbine Supplier Supply Chain Partners

Section 5. India-Asia Pacific Wind Power Leader

• 5-1 India Wind Power Market Environment Snapshot
• 5-2 India Policy Evolution
• 5-3 India RPS State Requirements
• 5-4 India Installed Base Following Policy Evolution
• 5-5 India Wind Resource Concentration, Installed Base by State
• 5-6 India Transmission Network Map
• 5-7 India Wind Power Development Value Chain Overview
• 5-8 Wind Power Project Pipelines
• 5-9 Wind Power Ownership
• 5-10 Turnkey Turbine Supplier Project Ownership and Pipelines
• 5-11 Turnkey Turbine Supplier Development Strategy Positioning
• 5-12 Leading State-Owned Power Generators Portfolio
• 5-13 Leading IPP Overview
• 5-14 Finance Player Positioning
• 5-15 Captive Generation Wind Power Owners, >25 MW
• 5-16 Turbine Supply Market Share
• 5-17 India Component Supply Chain, India
• 5-18 Turbine Size Evolution
• 5-19 Vendor Product Focus
• 5-20 Domestic Supplier Overview
• 5-21 Joint Venture Supplier Overview
• 5-22 Foreign Entrant Supplier Overview
• 5-23 India Wind Power Market Forecast

Section 6. China-Emerging Regional Leader

• 6-1 China Wind Power Market Environment Snapshot
• 6-2 China Wind Political Targets
• 6-3 NDRC Concession Tender Overview
• 6-4 Concession Project Awards, 2003-2006
• 6-5 China Installed Base Following Policy Evolution
• 6-6 China Wind Resources Concentration, Installed Base by Province
• 6-7 China Transmission Network Map
• 6-8 China Wind Power Development Value Chain Overview
• 6-9 Wind Power Project Pipelines
• 6-10 Wind Power Ownership
• 6-11 State Generator, Utility Project Ownership and Pipelines
• 6-12 Big Five Major Projects Pipeline Overview
• 6-13 Leading IPP Project Pipeline Overview
• 6-14 Foreign Players Partner for Positioning
• 6-15 Iberdrola China Wind Footprint
• 6-16 Foreign Players Announced Project Overview
• 6-17 Turbine Supply Market Share, 1Q 2006
• 6-18 Foreign Players Announced Production Plants
• 6-19 China Component Supply Chain
• 6-20 Turbine Size Evolution
• 6-21 Vendor Product Focus
• 6-22 Total Share MW Installed by Business Model
• 6-23 Wholly Owned Supplier Overview
• 6-24 Joint Venture Supplier Overview
• 6-25 Technology Licensee Overview
• 6-26 China Wind Power Market Forecast

Section 7. Australia-Developing Market Faces Uncertainty

• 7-1 Australia Wind Power Market Environment Snapshot
• 7-2 Renewables Production Incentives Comparison
• 7-3 Australia State RPS Overview
• 7-4 Australia Installed Base Following Policy Evolution
• 7-5 Australia Wind Resource Concentration, Installed Base by Province
• 7-6 East Australia Transmission Network Map
• 7-7 Australia Wind Power Development Value Chain Overview
• 7-8 Planning Approved Wind Power Project Pipelines
• 7-9 Wind Power Ownership
• 7-10 Leading Wind Power Offtakers of Projects >5 MW
• 7-11 Utility Wind Positioning
• 7-12 Traditional IPP Overview
• 7-13 Experienced Wind IPP Overview
• 7-14 Approved Projects, Pure Play Developers
• 7-15 Turbine Supply Market Share
• 7-16 Turbine Supplier Local Production Overview
• 7-17 Turbine Size Evolution
• 7-18 Vendor Product Focus
• 7-19 Australia Wind Power Market Forecast

Section 8. Japan-Developed Market Facing Uncertainty

• 8-1 Japan Wind Power Market Environment Snapshot
• 8-2 Options for Sourcing RPS Certificates
• 8-3 Evolution of Supply of Renewable Energy and RPS Targets
• 8-4 Japan Installed Base Following Policy Evolution
• 8-5 Japan Wind Resources Concentration, Installed Base by State
• 8-6 Japan Installed Base and Pipeline by State
• 8-7 Japan Permitting Overview
• 8-8 Transmission Network Map
• 8-9 Japan Wind Power Development Value Chain Overview
• 8-10 Wind Power Project Pipelines
• 8-11 Wind Power Ownership by Manufacturer
• 8-12 Turbine Supply Market Share
• 8-13 Turbine Size Evolution
• 8-15 Japan Wind Power Market Forecast

Section 9. South Korea-Challenged Local Market Aiming for Scale

• 9-1 South Korea Wind Power Market Environment Snapshot
• 9-2 Government Target Installed Base
• 9-3 South Korea Wind Resources Concentration, Installed Base by State
• 9-4 South Korea Transmission Network Map
• 9-5 South Korea Wind Power Development Value Chain Overview
• 9-7 Wind Power Project Pipelines 400 MW+
• 9-8 Wind Power Ownership
• 9-9 Turbine Supply Market Share
• 9-9 Turbine Size Evolution
• 9-10 South Korea Wind Power Market Forecast

Section 10. New Zealand-World Class Resource Driving Project Growth

• 10-1 New Zealand Wind Power Market Environment Snapshot
• 10-2 New Zealand Electricity Market Generation by Fuel Source
• 10-3 New Zealand Electricity Price Movements
• 10-4 New Zealand Wind Resource
• 10-5 New Zealand Permitting Overview
• 10-6 New Zealand Transmission Network Map
• 10-7 New Zealand Wind Power Development Value Chain Overview
• 10-8 Wind Power Project Pipelines
• 10-9 Wind Power Ownership
• 10-10 Generation and Retail Profiles of Local Utilities
• 10-11 Turbine Supply
• 10-12 Turbine Size Evolution
• 10-13 New Zealand Wind Power Market Size Forecast

Section 11. Other Markets-Sporadic Project Opportunities to Emerge

• 11-1 Pakistan Wind Power Market Environment Snapshot
• 11-2 Pakistan Wind Resource
• 11-3 Pakistan Forecast Annual Additions, 2006-2015
• 11-4 The Philippines Wind Power Market Environment Snapshot
• 11-5 The Philippines Wind Resource
• 11-6 The Philippines Regional Demand and Capacity, 2005
• 11-7 The Philippines Projected Generation Gap
• 11-8 The Philippines Projects Offered to Investors
• 11-9 The Philippines Forecast Additions 2006-2015
• 11-10 Taiwan Wind Power Market Environment Snapshot
• 11-11 Taiwan Wind Resource Overview
• 11-12 Taiwan Turbine Supply - September 2006
• 11-13 Taiwan Forecast Additions 2006-2015