Two Chinese companies - Envision Energy and SANY Group – secured the largest share of new orders for global wind turbines in the first quarter of 2023, according to UK-based research and consultancy group Wood Mackenzie.

Envision claimed the largest share with 3.6 gigawatts (GW) of new orders, followed by Denmark’s Vestas (3.3 GW) and SANY (2.6 GW).

Earlier in June, Envision had reported major contract awards to supply wind turbines for projects in Saudi Arabia and Egypt.

The global wind turbine order intake reached a new record in the first quarter, with total activity reaching 23.5 GW, up 27 percent year-on-year (YoY). This growth was driven by record-setting performance in China (15.2 GW), Latin America (1.7 GW), and the US (1.8 GW).

On the other hand, the cumulative value of global orders reached $15.2 billion, increasing by $3 billion YoY.

“China continues to be the overwhelming driver of global activity,” said Luke Lewandowski, Wood Mackenzie Research Director.

“We do not see that slowing down anytime soon. What is encouraging is seeing certain areas outside of China start to build momentum. Latin America had a record first quarter, thanks to activity in Argentina and Brazil, and the US is seeing renewed confidence and order growth, partially thanks to the Inflation Reduction Act,” he added.

 Despite the positive trends in global activity, orders from western original equipment manufacturers (OEMs) remained flat overall, falling nine percent YoY in the first quarter.

Offshore wind accounted for 13 percent of overall orders in the first quarter, Wood Mackenzie said.

(Writing by P Deol; Editing by Anoop Menon)