Developers seek ‘non-European wind turbines’ in emerging markets – World Bank

Developers seek ‘non-European wind turbines’ in emerging markets - World Bank | Windpower Monthly

Wind farm investors targeting developing countries are increasingly turning to non-European turbine suppliers, according to a financial expert from the World Bank’s private arm.

Maham Ifitkhar Waraich, a senior investment officer for global energy at the International Finance Corporation (IFC), told the WindEurope 2024 conference in Bilbao that this was part of companies’ strategies to reduce costs.

“Costs are going up for different developers, and so we see an increased focus on cost reduction.”

This has resulted in developers seeking longer terms for financing deals and asking for non-European technologies for their projects, she told a panel session this week.

European wind industry body WindEurope has previously flagged concerns about cost competition from China, with manufacturers reportedly offering their turbines at prices up to 50% cheaper than their European rivals.