Analysis of Global Power Market

Analysis of China's Power Operation Market Power Installed Capacity (1/2) • The total cumulative power installed capacity in China increased from 1,257.7 GW in 2013 to 1,899.7 GW in 2018 with a CAGR of 8.6% and is expected to further grow to 2,454.4 GW in 2023, indicating a CAGR of 5.3% during the period from 2018 to 2023. The total cumulative power installed capacity in China increased from 1,650.5 GW in 2016 to 1,899.7 GW in 2018 with a CAGR of 7.3% and is expected to further grow to 2,454.4 GW in 2023, indicating a CAGR of 5.3% during the period from 2018 to 2023. Currently, thermal power is, and will continue to be, the major power source in China. However, the Chinese government is promoting the development of clean energy, including hydropower, wind power, solar power and nuclear power. The hydropower is the second largest power source and is growing faster than thermal power in terms of power output. The proportion of wind power and solar power in total power output has also been growing steadily. In China it is not uncommon for power projects to commence construction while the land use right certificates are being applied. Such application could take ten years or even longer to complete, depending on the competent authorities' review and approval progress. Source: CEC, Frost & Sullivan FROST & SULLIVAN 48

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