It is reported that the National Development Reform Energy Research Institute released mainland China’s first wind power development plan for 2050.

Mr Wang Zhongyin Vice Chairman of the authority said land-based wind power would cost as much as coal power generation before a gradual cancellation of government subsidy. According to the report’s predictions, total installed capacity from wind power by 2010, 2030 and 2050 will respectively hit 200 million, 400 million and one billion kilowatts, becoming one of the country’s five largest power sources.

By 2050, China hopes power generated by wind will supply 17% of domestic demand. In 2010, the country added 18,928 megawatts of new installed capacity, bringing total capacity to 44,733 megawatts.

According to unofficial data from China Renewable Energy Society, the country added more than six million kilowatts in the first half of 2011, becoming the world largest wind power market. Since 2006, mainland China has implemented a fixed pricing mechanism for wind power in various regions. It has also offered a subsidy of between 0.01 and CNY 0.03 per kilowatt for linking wind power to grids.

(Sourced from Shanghai Securities News)