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					</table><p><strong>Turkey </strong>has <a href="https://www.mexc.co/en-IN/news/365435" target="_blank" rel="noopener">commenced</a> discussions with <strong>Saudi Arabia</strong>’s <strong>ACWA Power</strong> to develop 5 GW solar projects. The first phase will add 2 GW of capacity and is expected to be completed in the first quarter of 2026. This phase includes two 1 GW projects, one in Sivas and the other in Taşeli.</p>
<p><strong>Bahrain</strong>’s <strong>Electricity and Water Authority </strong>(<strong>EWA</strong>) <a href="https://ognnews.com/ArticleTA/331830" target="_blank" rel="noopener">announced</a> the laying of the foundation stone for the 100 MW Al Dur solar power project. The project was set up utilizing 135,000 solar modules and is expected to be completed by the third quarter of next year. EWA is implementing the project as part of its key initiatives in support of the kingdom’s energy transition pathway.</p>
<p><strong>Chinese </strong>wind turbine maker <strong>Goldwind Science &amp; Technology</strong> <a href="https://renewablesnow.com/news/goldwinds-hardware-to-power-143-mw-of-turkish-wind-farms-1287261/" target="_blank" rel="noopener">signed</a> a cooperation agreement to deploy its wind turbines for a 100-MW wind project being developed by <strong>Aksa Renewable Energy</strong> in <strong>Turkey</strong>. Under the agreement, Goldwind will supply its GWH 182-8.0 MW turbines. Aksa Renewable Energy is a unit of global independent power producer Aksa Energy, which operates in seven countries and has 3 GW of installed capacity.</p>
<p><strong>Oman</strong> plans on <a href="https://bioenergytimes.com/oman-plans-procurement-of-1600-mw-of-new-solar-and-wind-capacity/" target="_blank" rel="noopener">procuring</a> 1,600 MW of renewable energy through a mix of solar and wind power projects. The projects are being developed through <strong>Nama Power and Water Procurement Company</strong>. The current pipeline of projects includes the Al Kamil Phase I solar project, with a proposed capacity of 450-500 MW. The pipeline also includes three wind power projects planned at Mahoot, Duqm, and Sadah, totaling 1,100 MW. The latest power procurement drive builds on recent additions to Oman’s renewable portfolio, including the Manah Phase I and Phase II solar projects, which together have a capacity of 1 GW, and the Ibri Phase II solar project.</p>


MENA Weekly Roundup: Turkey Plans 5 GW Solar Projects with ACWA Power


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					</table><p>In a first for the sector, four China-based wind turbine original equipment manufacturers (OEM) have made it to the global top five rankings, according to a recent analysis by<a href="https://www.woodmac.com/" target="_blank" rel="noopener"> Wood Mackenzie</a>.</p>
<p>China accounted for nearly 65% of the global wind generation capacity in 2023. China-headquartered wind turbine maker<a href="https://www.goldwind.com/en/" target="_blank" rel="noopener"> Goldwind</a> assumed the leading position for the second consecutive year with a record capacity of 16.3 GW.</p>
<p>In the second position was <a href="https://www.envision-group.com/" target="_blank" rel="noopener">Envision</a><u>,</u> with 14.1 GW, followed by the only non-Chinese player,<a href="https://www.vestas.com/en" target="_blank" rel="noopener"> Vestas</a><u>,</u> with 11.5 GW. <a href="https://windeyenergy.com/en" target="_blank" rel="noopener">Windey</a> and <a href="https://www.myse.com.cn/en/" target="_blank" rel="noopener">MingYang</a> were ranked fourth and fifth, respectively, with 10.1 GW and 9.9 GW.</p>
<p>According to the report, the top five OEMs accounted for 54% of the global wind markets.</p>
<p>“China’s first batch of massive renewable bases have a 2024 deadline on the horizon, which has accelerated installations to an unprecedented pace of 74.7 GW. This combined with a mature supply chain and ambitious provincial targets, is pushing wind deployment to an unprecedented level in China,” said Endri Lico, principal analyst at Wood Mackenzie.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-65891" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Screenshot-2024-05-07-103107.jpg" alt="Woodmac Wind OEM Report Chart 01" width="600" height="515" /></p>
<p>In its global wind turbine analysis for the first quarter of 2024, Wood Mackenzie found that the global wind turbine order intake hit a new high after procuring 155 GW for the year, an increase of 16 GW from 2022.</p>
<p>The report said Chinese developers ordered almost 100 GW of turbines in 2023, which is said to have significantly benefited their domestic OEMs. The onshore wind capacity hit a record 67.8 GW, with nearly 7 GW of newly installed capacity coming from China, registering a year-over-year (YoY) increase of 41%. The report mentioned that this ultimately drove six Chinese OEMs into the global top 10 rankings.</p>
<p>Further, competitive pricing amongst 14 different Chinese OEMs last year led to turbine prices dropping by 16% and 9% onshore and offshore, respectively.</p>
<p><strong>Western Wind OEM Market</strong></p>
<p>Vestas, the only Western OEM that made it to the global top five, emerged as the market leader for the sixth consecutive year, with more than 10 GW installed outside of China.</p>
<p>In the same year, Siemens Gamesa (<a href="https://www.siemensgamesa.com/en-int" target="_blank" rel="noopener">SGRE</a>), an offshore and onshore wind turbine provider with a 9.7 GW installed capacity portfolio, overtook General Electric (<a href="https://www.ge.com/" target="_blank" rel="noopener">GE</a>) for the second position.</p>
<p><a href="https://www.nordex-online.com/en/" target="_blank" rel="noopener">Nordex</a> came fourth with 6.4 GW, and<a href="https://www.enercon.de/en" target="_blank" rel="noopener"> Enercon</a> came fifth with 2.4 GW. Overall, the top five Western OEMs represented 93% of the global volumes outside of China.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-65892" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Screenshot-2024-05-07-103142.jpg" alt="Woodmac Wind OEM Report Chart 02" width="600" height="589" /></p>
<p>Although Western markets contributed to the highest order intake by adding a record-high capacity of 55 GW, 2023 was also the year where the OEMs in the advanced economies, especially European and American companies, suffered financial losses, with the wind market plateauing at 40 GW. This was a 3% YoY drop, the lowest since the market slowdown during the COVID-19 pandemic.</p>
<p>“Western OEMs practiced commercial discipline, showing little appetite for price reduction to grow market share. 2023 saw some improvement in financial performance as some of the supply chain disruptions eased, but quality and reliability issues have emerged as another source of instability for western OEMs,” commented Lico.</p>
<p>The global insights firm also predicted 2024 to be a strong year for the off and onshore wind sector, with several countries strengthening their policy frameworks and acting as key determinants in pricing dynamics.</p>
<p>Earlier this month, the global cumulative wind power capacity<a href="https://www.mercomindia.com/global-wind-installations-2023#:~:text=China%20remained%20the%20offshore%20wind,11%)%20more%20than%20Europe."> surpassed</a> the 1 TW mark in 2023, a 13% YoY growth where China and the U.S. remained the top global markets for onshore wind additions.</p>
<p>As per an earlier Wood Mackenzie report, China is on track to<a href="https://www.mercomindia.com/china-230-gw-solar-and-wind-2023"> install</a> 230 GW of wind and solar capacity in 2023.</p>


Chinese Wind Turbine Manufacturers Account for Majority Global Market Share


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					</table><p>California-based investment firm Palisade Investment Partners (<a href="https://www.palisadegroup.com/" target="_blank" rel="noopener">Palisade</a>) and Aware Super Pty, a trustee of Australian superannuation fund <a href="https://aware.com.au/" target="_blank" rel="noopener">Aware Super</a>, are acquiring a 49% stake in China-based wind turbine maker <a href="https://www.goldwind.com/en/" target="_blank" rel="noopener">Goldwind</a>’s &#8216;Stockyard Hill Wind Farm&#8217; project in Australia’s Victoria state.</p>
<p>Deemed to be the largest wind farm in Australia’s National Electricity Market, the 528 MW project produces sufficient clean energy to power around 425,000 households in the region annually.</p>
<p>Palisade’s Diversified Infrastructure Fund will co-invest in the acquisition with Aware Super through a special purpose vehicle.</p>
<p>The construction of the Stockyard Hill wind project was completed in September this year and it uses 149 turbines made by Goldwind.</p>
<p>Goldwind will be responsible for the project’s operation and maintenance under a long-term agreement.</p>
<p>Palisade confirmed that all the electricity and large-scale generation certificates are sold under a long-term offtake agreement with Sydney-headquartered power and gas trader Origin Energy.</p>
<p>Palisade Executive Director James Hann said, “This acquisition represents a continuation of our strategy to invest across the spectrum of renewable energy assets including high quality greenfield and brownfield projects. Stockyard Hill provides our investors with exposure to long-term contracted cashflows and represents further diversification across our growing portfolio of renewable energy investments.”</p>
<p>Aware Super’s Senior Portfolio Manager Mark Hector said, “We believe Stockyard Hill Wind Farm will provide a valuable, new source of strong risk-adjusted returns for our members’ $1 billion renewable energy portfolio. It also reaffirms our investment strategy to actively pursue those assets we believe will benefit from the transition to a lower carbon future.”</p>
<p>In September this year, Goldwind <a href="https://mercomindia.com/daily-news-wrap-up-vikram-solar-supply-350-mw-modules-arizona/" target="_blank" rel="noopener">secured</a> a deal with Masdar, an Abu Dhabi Future Energy Company, to supply 111 units of GW155-4.5 MW turbines to the Zarafshan wind farm in the Navoi region of Central Uzbekistan.</p>
<p>In December 2021, Palisade Investment Partners <a href="https://mercomindia.com/project-finance-brief-ashtrom-kenlov-to-acquire/" target="_blank" rel="noopener">announced</a> the refinancing of a 5-year-debt facility worth $125 million, for the 148 MW Ross River solar project in Queensland’s Townsville.</p>


Investment Firms to Acquire 49% Stake in Goldwind’s 528 MW Wind Farm in Australia

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