Securing the global supply chain for wind energy
Having just achieved the milestone of 1 TW in cumulative global wind capacity this year, the wind industry is on-track to hit the 2 TW mark by 2030. But as wind power expands, analysis by GWEC reveals that spare capacity in the global supply chain is likely to disappear by 2026. It is clear that the industry must diversify its production hubs to shore up the resilience of its supply chain. Flagship packages like the US Inflation Reduction Act and EU Green Deal Industrial Plan could usher in a promising “green investment race.” But their focus on reshoring manufacturing and investment activity could also impose obstacles in a global exchange of wind energy knowledge, innovation and technology transfer, all of which are essential for a fair and cost-effective energy transition. Countries like Brazil, India and many more are vying to become the next hubs of supply chain investment. But efforts to de-couple or “de-risk” from China, which holds more than 70% market share for some critical components in wind energy, must be carefully undertaken to avoid intensifying supply chain bottlenecks and making wind less cost-competitive.
This high-level session will convene government representatives, industry leaders and specialists on industrial policy and renewable energy to discuss the state of the global wind energy supply chain. This session will also mark the launch of a comprehensive new report on the global wind energy supply chain authored by the Global Wind Energy Council and Boston Consulting Group, which outlines action areas to grow the global wind energy supply chain in line with a 1.5C pathway.