Table of Contents Market outlook 2022-2026139Appendix147Methodology and terminology148Global Leaders152 Forewords2Executive summary7Wind energy: The next era of growth15Part One: System Design21Part Two: Society43Part Three: Supply Chain57Part Four: System Technology67Part Five: Infrastructure79Part Six: Workforce89Market status 2021101Markets to Watch113Vietnam114The Philippines117China119India124Brazil127Colombia129South Africa131Egypt134Exploring New Markets: Onshore Wind137Exploring New Markets: Offshore Wind138 Published4 April 2022 Global Wind Energy CouncilRue de Commerce 311000 Brussels, Belgiuminfo@gwec.netwww.gwec.net • Dan Wetzel (IEA)• Dolf Gielen, Roland Roesch, Michael Renner, CeliaGarcía-Baños (IRENA)•Nils Askær-Hune, Emil Damgaard Grann (Ørsted)• Jon Lezamiz, Song Cheng, Carolina Clemente,Fergus Costello, Aidan Cronin (Siemens GamesaRenewable Energy) Designlemonboxwww.lemonbox.co.uk More than ever action cannot bedelayed if we want to deliver thenecessary wind capacity to reachclimate objectives on time. As wasmade clear at the GlasgowClimate Summit, there is broadconsensus on the urgency ofpromoting rapid and effectivedecarbonization. Electrificationwith renewables should act as alever for global change as the mostcost-efficient way to decarbonisethe economy. a carbon-neutral economy by 2050is technologically possible,economically feasible and sociallynecessary. The decarbonisation ofthe economy is a tremendousopportunity to create wealth,generate employment and improveboth the condition of the planetand people’s health. this part of the energy transition.Two decades ago, we were apioneer in onshore wind energy.We have invested €120 billion inthe energy transition since then,and now we are also pioneers inoffshore wind. During 2021,offshore wind energy hasestablished itself as one of ourcompany’s major growth drivers. As is already well known at thispoint, wind is a key and strategicpart of the mix to achieve a green The wind industry is doing its part,ready and committed to step up, Xabier Viteri SolaunManaging Director,Iberdrola Renewables The latest geopolitical events haveput a spotlight on the urgent needto reinforce security of supply,reduce energy dependency andshield against market disruptionscaused by high prices. Again, thiscan only be achieved with amassive deployment ofrenewables. The decarbonisation of the economy is atremendous opportunity to create wealth, generateemployment and improve both the condition of theplanet and people’s health. economy. 2021 was a record yearfor the industry, but we need tokeep moving at pace. The newreport of the UN’sIntergovernmental Panel onClimate Change (IPCC) stated thatthe Earth is already 1.1°C warmerthan before industrialisation. Ourresponse to this is still not enough;we need to push harder to achievethe goals on time. however permitting is the mainroadblock hindering our progress.Policy barriers must be lifted.Overcoming permittingbottlenecks should be a priority byall countries and policymakers. There is a clear understanding onthe role of wind in the race to reachthe Paris Agreement goal of 1.5°Cglobal warming. GWEC is playingan important role in supporting thedevelopment of the wind industryaround the world, and this reportshows we are moving in the rightdirection, but there is still a way togo to reach the path of zero-carbon. A massive deployment ofrenewables requires huge levels ofinvestments and this requires clearand stable regulatory frameworks.Any unexpected changes on rulescauses uncertainty and will resultin a reduction in the appetite to We have always believed stronglyin wind and committed to leading I firmly believe that the transition to deploy new renewable capacity.Policy is critical for the industryand needs to be consistent andprogressive in its thinking. and regional supply chain hubs,sometimes linked to newopportunities at technologicallevel. These initiatives wouldreduce geopolitical risk andimprove energy security, as well ascreating new green jobs andeconomic growth for those regions.This is the core that underpins theindustry, and it is of extremeimportance to strengthen everylink of the chain, from design, tomanufacturing to equipment. It is also paramount to create anenvironment that boosts innovationto be able to harness everyopportunity to unlock the fullpotential of wind. Technologyimprovements will be one of themain enablers of the energytransition. One of the key game-changers is floating offshore wind,which is ready to take off and willsoon bring wind technology todozens of new sea basins. Iberdrola Group seeks to createeconomic, social andenvironmental value in all itsmarkets, and we operate with amore sustainable future in mind.Ensuring a strong co-existencewith local communities and otherwind power interests shouldremain one of the top priorities forour industry. Our desire is topromote this new model inpartnership with all the playersinvolved in the sector, so thatsociety as a