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Global wind energy market set to grow in 2008

24 January 2008

The global wind energy market is set to grow further in 2008, according to the German Engineering Federation (VDMA).

While wind power will see further growth across the planet, Thorsten Herdan, head of VDMA power systems, forecasted Germany, one of the world's biggest markets, would see a further slowdown, after contracting 25 per cent in 2007.

Around 1,666MW of wind turbines were installed in Germany in 2007.

Germany is the world's largest producer of electricity from wind power and has 22,247MW installed.

But the German market faces pressure from high raw material and energy costs.

"The situation in the supply markets is a little tight and that has to do with the fact that lots of companies have invested in new capacity," he told a news conference.

The world market for wind energy grew by 30 per cent in 2007, with around 20,000 megawatts installed, the VDMA said.

In 2006, growth stood at 32 per cent.

China saw a three-fold growth while the US market had doubled in size.

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