Docstoc

Overheads WMU-2002

Document Sample
Overheads WMU-2002 Powered By Docstoc
					                              World Market Update 2002
                                    Forecast 2003-2007

   - Market Status -
      Demand Side
       Supply Side

  - Market Forecast -
   Forecast until 2007
  Predictions 2008-2012

- Production & Tariffs -

   - Assessment of -
    Multi-MW WTGs

                                                March 2003 - Page 1
                     World Market Update 2002
World Market Growth rates 1997-2002

  Year:    Installed MW     Increase %   Cumulative MW    Increase %
  1997         1,568                         7,636
  1998         2,597           66%          10,153            33%
  1999         3,922           51%          13,932            37%
  2000         4,495           15%          18,449            32%
  2001         6,824           52%          24,927            35%
  2002         7,227           6%           32,037            29%
 Average growth - 5 years     35.7%                          33.2%




                                                         March 2003 - Page 2
                      World Market Update 2002
                                          Installed Wind Power in the World
                                                        - Annual and Cumulative -
              8,000                                                                                                             32,000


              7,000                                                                                                             28,000


              6,000                                                                                                             24,000


              5,000                                                                                                             20,000




                                                                                                                                         Cumulative MW
MW per year




              4,000                                                                                                             16,000


              3,000                                                                                                             12,000


              2,000                                                                                                             8,000


              1,000                                                                                                             4,000


                 0                                                                                                              0
                  1983 1984   1985 1986   1987 1988 1989 1990   1991 1992   1993 1994   1995 1996   1997 1998 1999 2000 2001 2002
Source: BTM Consult ApS - March 2003                                   Year




                                                                                                                    March 2003 - Page 3
                                               World Market Update 2002
Installed capacity in 2001 and 2002 (Global)
                          Installed   Accu.    Installed   Accu.    % of installed
                             MW        MW         MW        MW           MW
                            2001       2001      2002       2002        2002
Total America               1,745     4,593       494      5,087        6.8%
Total Europe                4,527     17,812     6,163     23,832      85.3%
Total South & East Asia      292      1,870       291      2,186        4.0%
Total OECD-Pacific           259        478       251        730        3.5%
Total Africa                  0         137        11        148        0.2%
Total other continents
                             1         38        16.3       54           0.2%
and areas:

Annual     MW installed
                           6,824                7,227
capacity
Cumulative MW installed
                                      24,927               32,037
in the world




                                                                    March 2003 - Page 4
                          World Market Update 2002
Installed capacity in 2001 and 2002 (America)
                     Installed   Accu.   Installed   Accu.
                        MW        MW       MW         MW
                       2001      2001      2002      2002
Argentina                11        27       1.0        28
Brazil                   2         24       0.6        24
Canada                   75       214        56       270
Costa Rica               20        71        8         79
Mexico                   0         3         0         3
USA                    1,635     4,245      429      4,674
Other Americas           2         9         0         9
Total America          1,745     4,593      494      5,087




                                                 March 2003 - Page 5
                 World Market Update 2002
                                                     Installed   Accu.    Installed   Accu.
                                                        MW        MW         MW         MW
Installed                                              2001      2001       2002       2002
                Austria                                  17        86         44        130
capacity in     Belgium                                  15        34         11         45
                Denmark                                 115      2,456       530       2,880
2001 and 2002   Finland                                  1         40         4          44
                France                                   52       115         69        183
(Europe)        Germany                                2,627     8,734      3,247     11,968
                Greece                                   84       358        104        462
                Ireland (Rep.)                           7        129         38        167
                Italy                                   276       700        106        806
                Luxembourg                               0         6          1          7
                Netherlands                              52       523        219        727
                Norway                                   4         17         80         97
                Poland                                   21        24         30         54
                Portugal                                 42       153         51        204
                Spain                                  1,050     3,550      1,493      5,043
                Sweden                                   53       318         55        372
                Switzerland                              2         5          1          6
                Turkey                                   0         19         0          19
                UK                                      107       525         55        570
                Rest of Europe:         Other East
                European and Baltic countries.
                                                        2         20.5      27.5       48.0
                Total Europe                          4,527      17,812    6,163      23,832


                                                                     March 2003 - Page 6
                World Market Update 2002
Installed capacity in 2001 and 2002 (Asia)
                                        Installed   Accu.   Installed       Accu.
                                          MW         MW       MW             MW
                                          2001      2001      2002          2002
P.R. China                                  54       406        67           473
India                                      236      1,456      220          1,702
Rest of Asia:         Indonesia, N.
Korea,    Malaysia,      Philippines,      2         9         3.5             12
Taiwan, Thailand, Vietnam, etc.
Total South & East Asia                   292       1,870     291           2,186




                                                                     March 2003 - Page 7
                             World Market Update 2002
Installed capacity                                              Installed
                                                                  MW
                                                                            Accu.
                                                                             MW
                                                                                    Installed
                                                                                      MW
                                                                                                Accu.
                                                                                                 MW
in 2001 and 2002     Australia
                                                                  2001
                                                                    41
                                                                            2001
                                                                              71
                                                                                      2002
                                                                                       119
                                                                                                2002
                                                                                                 189
 (Rest of World)     Japan                                         217       357       129       486
                     New Zealand                                    0         35        0         35
                     Pacific Islands                                0         5         0         5
                     South Korea                                    1         10        4         14
                     Total OECD-Pacific                            259       478       251       730

                     Egypt                                         0         69        0            69
                     Morocco                                       0         54        0            54
                     Tunisia                                       0         11        9            19
                     Rest of Africa:       Algeria, Cape
                     Verde, Ethiopia, Libya, South Africa,         0         4         2            6
                     etc.
                     Total Africa                                  0        137        11           148

                     Middle East:      Jordan, Iran, Iraq,
                     Israel, Saudi Arabia, Syria, etc. (excl.      0         18        15           32
                     Egypt)
                     Transition             Economies:
                     including     Russia,       Ukraine,          1        20.1       1.8      21.9
                     Uzbekistan, Kazakstan, etc.
                     Total other continents
                                                                   1        38.1      16.3      54.4
                     and areas:




                                                                              March 2003 - Page 8
               World Market Update 2002
                          Global Wind Power Status
                           Cumulative MW by end of 1996, 1999 & 2002
 25,000

 20,000

 15,000

 10,000

  5,000

       0
                  Europe               USA                  Asia               Rest of World
Source: BTM Consult ApS - March 2003      1996 (6.105 MW)   1999 (13.932 MW)     2002 (32.037 MW)




                                                                                 March 2003 - Page 9
                               World Market Update 2002
Average size WTG (kW) installed each year
 Year    China     Denmark Germany       India      Spain     Sweden           UK              USA
 1998     636        687     783          283        504        590            615             723
 1999     610        750     919          283        589        775            617             720
 2000     600        931    1,101         401        648        802            795             686
 2001     681        850    1,281         441        721       1,000           941             908
 2002     709       1,443   1,397         553        845       1,112           843             893


 Year   Globally          Global Average Annual WTG in kW          Source: BTM Consult ApS - March 2003

 1998     816                  1,400
 1999     820
                               1,200
 2000     790
 2001    1,015                 1,000
 2002    1,305
                                800
                          kW




                                600

                                400

                                200

                                  0
                                  1998       1999           2000            2001                  2002




                                                                       March 2003 - Page 10
                        World Market Update 2002
Average size WTG (kW) of cumulative installation
 Year   China   Denmark Germany   India   Spain   Sweden    UK         USA
 1998    362      271     465      233     367      412     442        132
 1999    441      303     562      232     455      453     450        153
 2000    479      366     646      258     510      489     484        161
 2001    500      376     759      277     550      535     542        236
 2002    519      508     866      300     603     579      565        253




                                                       March 2003 - Page 11
                    World Market Update 2002
Number of WTG units world-wide (Global)
                    Total units                      Net increase per year                       Total
                    until end of                                                               by end of
Country/Region         1996        1997     1998        1999     2000        2001     2002       2002
Total America         16,317       -158      416        -177      261        1,945     568      19,172
Total Europe          12,301       2,343    2,733       4,389    4,624       3,920    4,194     34,504
Total Asia             4,033        594       33         438      650         830      659       7,237
Rest of World           115          35        1         134      156          27      115        583

Total units           32,766       2,814    3,183       4,784    5,691       6,722    5,536     61,496

Cumulative            32,766       35,580   38,763     43,547   49,238       55,960   61,496

Installed capacity by the end of 2002:      32,037 MW

Average size WTG in the world :                521 kW/WTG




                                                                                 March 2003 - Page 12
                               World Market Update 2002
Number of WTG units world-wide (America)
                  Total units                  Net increase per year                      Total
                  until end of                                                          by end of
Country/Region       1996        1997   1998      1999     2000        2001     2002      2002
USA                 16,133       -198    297      -276      241        1,802     480     18,479
Canada                 63          5     76        57       17           93      72        383
Rest of America       121         35     43        42        3           50      16        310
Sum total           16,317       -158    416      -177      261        1,945     568     19,172




                                                                         March 2003 - Page 13
                           World Market Update 2002
Number of WTG units world-wide (Europe)
                 Total units                    Net increase per year                        Total
                 until end of                                                              by end of
Country/Region      1996        1997    1998       1999     2000        2001       2002      2002
Austria               32          25       9         13       36          17         27       159
Denmark             4,286        509     452        487      656         135       -859      5,666
Germany             4,381        812     983       1,732    1,552       2,051      2,314    13,825
Greece               148           0      74        174      181          49        115       741
Ireland (Rep.)        21          75      15         15       72           7         27       232
Italy                193          65     160        142      218         432        232      1,442
Netherlands         1,104         39      74         91       49          50        122      1,529
Portugal              49          40      25         14       60          41         49       278
Spain                969         645     783       1,583    1,580        892       1,915     8,367
Sweden               304          30      92         59       56          53         49       643
UK                   665          84      16         39       75          90         40      1,009
Rest of Europe       149          19      50         40       89         103        164       614
Sum total          12,301       2,343   2,733      4,389    4,624       3,920      4,194    34,504




                                                                                March 2003 - Page 14
                           World Market Update 2002
Number of WTG units world-wide (Asia + ROW)
                 Total units                  Net increase per year                        Total
                 until end of                                                            by end of
Country/Region      1996        1997   1998      1999     2000        2001       2002      2002
P.R. China           255         142    33        164      140         77         100       911
India               3,700        430    -30       205      420         539        405      5,669
Japan                 70         19     30        56       85          208        147       615
Rest of Asia           8          3      0        13        5           6          7         42
Sum total           4,033        594    33        438      650         830        659      7,237

Rest of World        115        35      1         134      156        27          115       583




                                                                             March 2003 - Page 15
                           World Market Update 2002
Installed offshore wind power in the World
(2001 and 2002)
                               Installed   Accu.   Installed   Accu.
                                 MW         MW       MW         MW
             Country             2001      2001      2002      2002
Denmark                            0        49.9      183      232.9
The Netherlands                    0        18.8       0        18.8
Sweden                            10        23.3       0        23.3
UK                                 0          4        0         4
      Total capacity - World      10         96       183       279




                                                       March 2003 - Page 16
                    World Market Update 2002
Operating offshore wind farms in the World by
the end of 2002
         Country                   WTG`s            MW       Type foundations   Construction
Vindeby (DK)             11 x 450 kW, Bonus         4.95   Concrete caisson        1991
Lely (NL)                4 x 500 kW, NedWind        2.0    Driven monopile         1994
Tunø Knob (DK)           10 x 500 kW, Vestas        5.0    Concrete caisson        1995
Dronten Isselmeer (NL)   28 x 600 kW, Nordtank      16.8   Driven Monopile         1996
Bockstigen (S)           5 x 550 kW, Wind World     2.75   Drilled Monopile        1997
Utgrunden (S)            7 x 1,5 kW, ENRON          10.5   Driven Monopile         2000
Blyth (UK)               2 x 2 MW, Vestas           4.0    Drilled Monopile        2000
Middelgrunden (DK)       20 x 2 MW, Bonus           40.0   Concrete caisson        2000
Yttre Stengrund (S)      5 x 2 MW, NEG Micon        10.0   Drilled Monopile        2001
Horns Rev (DK)           80 x 2 MW, Vestas         160.0   Driven Monopile         2002
Palludan Flak (DK)       10 x 2,3 MW, Bonus         23.0   Driven Monopile         2002
Total                    Number of WTGs: 182      279 MW




                                                                       March 2003 - Page 17
                          World Market Update 2002
The 10 largest markets in 2002 (Annual MW)
Country             2000    2001    2002   Share % Cum. Share %
Germany            1,665   2,627   3,247    44.9%      45%
Spain              1,024   1,050   1,493    20.7%      66%
Denmark             603     115     530     7.3%       73%
USA                 165    1,635    429     5.9%       79%
Netherlands          40      52     219     3.0%       82%
India               169     236     220     3.0%       85%
Japan                74     217     129     1.8%       87%
Australia            21      41     119     1.6%       88%
Italy               147     276     106     1.5%       90%
Greece              116      84     104     1.4%       91%
Total              4,023   6,333   6,595
Percent of World   89.5%   92.8%   91.3%




                                                 March 2003 - Page 18
                   World Market Update 2002
The 10 largest markets by end of 2002 (cumulative MW)
 Country             2000     2001     2002    Share % Cum. Share %
 Germany             6,107    8,734   11,968    37.4%      37%
 Spain               2,836    3,550    5,043    15.7%      53%
 USA                 2,610    4,245    4,674    14.6%      68%
 Denmark             2,341    2,456    2,880    9.0%       77%
 India               1,220    1,456    1,702    5.3%       82%
 Italy                424      700      806     2.5%       85%
 Netherlands          473      523      727     2.3%       87%
 UK                   425      525      570     1.8%       89%
 Japan                142      357      486     1.5%       90%
 P.R. China           352      406      473     1.5%       92%
 Total              16,929   22,952   29,329
 Percent of World   91.8%    92.1%    91.5%




                                                       March 2003 - Page 19
                      World Market Update 2002
Growth rates in the Top-10 markets
              Accu.      Accu.    Accu.    Accu.    Growth rate   3 years
                end        end      end      end     2001-2002    average
Country        1999       2000     2001     2002          %          %
Germany        4,442      6,107    8,734   11,968      37.0%       39.2%
Spain          1,812      2,836    3,550    5,043      42.1%       40.7%
USA            2,445      2,610    4,245    4,674      10.1%       24.1%
Denmark        1,738      2,341    2,456    2,880      17.3%       18.3%
India          1,035      1,220    1,456    1,702      16.9%       18.0%
Italy           277        424      700      806       15.1%       42.7%
Netherlands     433        473      523      727       39.0%       18.9%
UK              362        425      525      570        8.7%       16.4%
Japan            68        142      357      486       36.1%       92.7%
P.R. China      262        352      406      473       16.5%       21.8%
Total "Ten"   12,874     16,929   22,952   29,329      27.8%       31.6%




                                                          March 2003 - Page 20
                       World Market Update 2002
Commercial MW-class WTGs
Technical Spec.:      Capacity   Rotor diam.   Control            Comments
Name/types:           kW         m             Features
Bonus 2MW                2000       70-77      Active Stall (C)   2-speed CombiStall
Bonus 2.3MW              2300        82.4        CombiStall
DeWind 1.25MW            1250         62          Pitch (V)       IGBT-Inverter
DeWind 2MW               2000         80          Pitch (V)       IGBT-Inverter
Enercon E66, 1.5 MW      1500         66          Pitch (V)       Multipoled generator
Enercon E66, 1.8 MW      1800         70          Pitch (V)       Multipoled generator
Fuhrländer MD77          1500         77          Pitch (V)
NEG Micon NM 1500C       1500         64          Stall (C)
NEG Micon NM 2000        2000         72       Active Stall (C)
NEG Micon NM 2750        2750         92          Pitch (V)
Nordex N60/N62           1300       60/62         Stall (C)       2-speed switchable poles
Nordex 2.5 MW            2500         80          Pitch (V)
REPOWER MM70             2000         70          Pitch (V)
GE Wind 1,5              1500      65-70.5        Pitch (V)       IGBT-Inverter
VESTAS V66               1750         66          Pitch (V)       Variable Frequency Control System
VESTAS V80               2000         80          Pitch (V)       Variable Frequency Control System




                                                                               March 2003 - Page 21
                          World Market Update 2002
Installed MW class WTGs - 1997 to 2002

Year:                                          Until 1997   1998        1999           2000     2001      2002
Installed capacity (MW) during the year           153       417        1,076          1,779    3,570     4,485
Number of units installed during the year         128       332         802           1,293    2,436     2,776
Share of the World Market in % (ref. MW)         9.7%       16%        27.4%          39.6%    52.3%     62.1%


               Share of the World Market in % (ref. MW)
             70%

             60%

             50%

             40%

             30%

             20%

             10%

              0%
              Until 1997        1998               1999       2000             2001           2002

            Source: BTM Consult ApS - March 2003            Share of the World Market in % (ref. MW)



                                                                                       March 2003 - Page 22
                                  World Market Update 2002
The Top-10 list of suppliers 2002
                 Accu.    Installed   Share   Accu.     Share
                   MW        MW        2002     MW      accu.
                  2001      2002        %      2002       %
VESTAS (DK)       4,983     1,605     22.2%    6,588    20.6%
ENERCON (GE)      3,206     1,334     18.5%    4,540    14.2%
NEG MICON (DK)    4,510     1,033     14.3%    5,543    17.3%
GAMESA (ES)       2,125      854      11.8%    2,979    9.3%
GE WIND (US)      2,288      638      8.8%     2,925    9.1%
BONUS (DK)        2,306      509      7.0%     2,815    8.8%
NORDEX (GE)       1,473      504      7.0%     1,978    6.2%
MADE (ES)          783       247      3.4%     1,030    3.2%
REPOWER (GE)       379       223      3.1%      602     1.9%
ECOTÉCNIA (ES)     362       120      1.7%      482     1.5%
Others            3,677      371      5.1%     4,048    12.6%
Total            26,092     7,436     103%    33,528    105%




                                                       March 2003 - Page 23
                 World Market Update 2002
                                Top-10 Suppliers in 2002
                                    95% of the total market
                                                                ENERCON (GE)
                 VESTA S (DK)                                       18.5%
                    22.2%


                                                                                    NEG M ICON (DK)
                                                                                         14.3%




  Others 5.1%


ECOTÉCNIA (ES)
     1.7%
      REP OWER (GE)                                                            GA M ESA (ES)
           3.1%                                                                     1
                                                                                   1 .8%
                M A DE (ES)
                    3.4%
                          NORDEX (GE)                    GE WIND (US)
                                           B ONUS (DK)
                             7.0%                            8.8%
                                               7.0%
Source: BTM Consult ApS - March 2003




                                                                               March 2003 - Page 24
                                World Market Update 2002
% -point difference in Market Share (2001-2002)                                                                         Source: BTM Consult ApS - March 2003

 5.0%


 4.0%
                                                                        Performed better than the market !
 3.0%


 2.0%


 1.0%


 0.0%
         ENERCON (GE)




                                         NEG MICON (DK)




                                                                                                                                                      MITSUBISHI (JP)
                                                             REPOWER (GE)



                                                                             ECOTÉCNIA (ES)




                                                                                                          NORDEX (GE)




                                                                                                                                                                        GE WIND (US)
                                                                                                                           BONUS (DK)
                                                                                              MADE (ES)
                           GAMESA (ES)




                                                                                                                                        VESTAS (DK)
 -1.0%


 -2.0%


 -3.0%

                        Performed less than the market !
 -4.0%


 -5.0%




                                                                                                                                           March 2003 - Page 25
                                                          World Market Update 2002
Leading suppliers in the Top-10 markets in 2002
Positions in the Top-           Suppliers in the leading markets
Ten markets             Total
                         MW           No. 1                 No. 2                No. 3
Market/Country          2002
1. Germany              3,247      ENERCON               VESTAS               GE Wind
2. Spain                1,493       GAMESA                MADE               NEG Micon
3. Denmark               530        VESTAS              NEG Micon              BONUS
4. USA                   429        VESTAS              NEG Micon             GE Wind
5. The Netherlands       219        VESTAS              NEG Micon            ENERCON
6. India                 220       NEG Micon            ENERCON               SUZLON
7. Japan                 129      LAGERWEY              NEG Micon             NORDEX
8. Australia             119       NEG Micon             VESTAS               no others
9. Italy                 106        VESTAS              ENERCON               no others
10. Greece               104       NEG Micon             BONUS               ENERCON
Total MW in Top-Ten     6,595   The Top-Ten markets counts for 91% of the total world market
                                in 2002




                                                                               March 2003 - Page 26
                          World Market Update 2002
Top-10 manufacturers share of sold MW
                              1996       1997         1998        1999        2000        2001      2002
Top-10 market share          88.5%      92.7%        91.4%       92.6%       91.8%       93.7%     95.0%
Other manufacturers          11.5%      7.3%         8.4%        7.4%        8.2%        6.3%      5.0%


            Top-10 market share                 Top-10 market share   Other manufacturers

           100%
             90%
             80%
             70%
             60%
             50%
             40%
             30%
             20%
             10%
              0%
                      1996     1997      1998       1999     2000     2001      2002
           Source: BTM Consult ApS - March 2003



                                                                                     March 2003 - Page 27
                              World Market Update 2002
Market shares in 2000, 2001 and 2002
                  Installed   Share   Installed   Share   Installed   Share
                     MW        2000      MW        2001      MW        2002
                    2000        %       2001        %       2002        %
VESTAS (DK)          805      17.9%     1,648     24.1%     1,605     22.2%
ENERCON (GE)         617      13.7%     1,036     15.2%     1,334     18.5%
NEG MICON (DK)       601      13.4%      874      12.8%     1,033     14.3%
GAMESA (ES)          623      13.9%      648      9.5%       854      11.8%
GE WIND (US)         270      6.0%       865      12.7%      638      8.8%
BONUS (DK)           516      11.5%      593      8.7%       509      7.0%
NORDEX (GE)          375      8.3%       461      6.7%       504      7.0%
MADE (ES)             85      1.9%       191      2.8%       247      3.4%
REPOWER (GE)          66      1.5%       133      1.9%       223      3.1%
ECOTÉCNIA (ES)       174      3.9%        53      0.8%       120      1.7%
LAGERWEY (NL)         36      0.8%        92      1.3%       114      1.6%
DEWIND (GE)           94      2.1%        75      1.1%        86      1.2%
SUZLON (Ind)         103      2.3%       122      1.8%        60      0.8%
FUHRLÄNDER (GE)       32      0.7%        69      1.0%        47      0.7%
MITSUBISHI (JP)       64      1.4%       178      2.6%        30      0.4%
Others                88      2.0%        39      0.6%        33      0.5%
Total               4,548     101%      7,075     104%      7,436     103%




                                                                 March 2003 - Page 28
                       World Market Update 2002
Export ranking of manufacturers in 2002
                  Installed   Domestic   Export   Export
                    2002        2002      2002    share
                     MW         MW        MW         %
VESTAS (DK)         1,605        266     1,338    83.4%
NEG MICON (DK)      1,033        166       867    83.9%
GE WIND (US)         638         62        576    90.4%
BONUS (DK)           509         74        435    85.5%
ENERCON (GE)        1,334      1,103       230    17.3%
NORDEX (GE)          504         284       220    43.7%
LAGERWEY (NL)        114          4        111    96.9%
MITSUBISHI (JP)       30          5        25     84.0%
GAMESA (ES)          854         839       15      1.8%
MADE (ES)            247         234       13       5%
DEWIND (GE)           86         80         7      7.8%
REPOWER (GE)         223         221        2      0.7%
ECOTÉCNIA (ES)       120         120        0      0.0%
SULZON (Ind)          60         60         0       0%
FUHRLÄNDER (GE)       47         47         0       0%
Total               7,403      3,564     3,839    51.9%



                                                           March 2003 - Page 29
                   World Market Update 2002
Average export share for the past 3 years
                  Installed   Installed   Installed    Sum      Export    Average
                    2000        2001        2002      3 years   3 years    Export
                     MW          MW          MW         MW        MW       share
VESTAS (DK)          805        1,648       1,605      4,057     3,627     89.4%
NEG MICON (DK)       601         874        1,033      2,508     2,046     81.6%
BONUS (DK)           516         593         509       1,618     1,353     83.6%
GE WIND (US)         270         865         638       1,773     1,291     72.8%
ENERCON (GE)         617        1,036       1,334      2,987      669      22.4%
NORDEX (GE)          375         461         504       1,340      466      34.8%
MITSUBISHI (JP)       64         178          30        272       263      96.7%
LAGERWEY (NL)         36          92         114        242       237      98.2%
GAMESA (ES)          623         648         854       2,126       54       2.5%
MADE (ES)             85         191         247        523        22       4.2%
DEWIND (GE)           94          75          86        254         9       3.6%
REPOWER (GE)          66         133         223        421         6       1.5%
FUHRLÄNDER (GE)       32          69          47        148         5       3.0%
ECOTÉCNIA (ES)       174          53         120        347         1       0.2%
SUZLON (Ind)         103         122          60        285         0       0.0%
Total               4,460       7,037       7,403     18,899    10,049     53.2%




                                                                March 2003 - Page 30
                      World Market Update 2002
                 Domestic and Export (2000-2002)                                     Domestic   Export

FUHRLÄ NDER

   LA GERWEY

     DEWIND

  M ITSUB ISHI

     SUZLON

  ECOTÉCNIA

   REP OWER

       M A DE

     NORDEX

      B ONUS

     GE WIND

    GA M ESA

  NEG M ICON

    ENERCON

     VESTA S


             0        500       1,000   1,500   2,000        2,500   3,000   3,500      4,000      4,500
Source: BTM Consult ApS - March 2003
                                                        MW




                                                                               March 2003 - Page 31
                               World Market Update 2002
Segment distribution of installed capacity in 1995-2002
                                                        % of world market
Market segments                      1995   1996   1997   1998     1999   2000   2001    2002
Dispersed development, single WTGs
                                     75     70      60     45      42     46      35      32
and small wind farms up to 5 MW
Commercial and Utility owned wind
                                     24     28      40     54      57     53      64     65.5
farms > 5 MW up to 100 MW
Other Niche markets i.e offshore      1      1      1       1      1       1       1      2.5




                                                                         March 2003 - Page 32
                               World Market Update 2002
Segmentation of product sizes in 2000-2002

Year                         2000       2001            2002
Total MW supplied            4,548     7,056            7,416
Product (Size range)                 % of total MW
"Small WTGs" <749 kW        53.6%      32.3%           13.7%
"Main stream" 750-1500 kW   35.0%      50.8%           55.7%
"MW-class" 1501-2500 kW     11.4%      16.9%           30.0%
"Multi-MW Class" >2500 kW    0.0%      0.0%             0.6%
Total                       100.0%    100.0%           100.0%




                                                     March 2003 - Page 33
                      World Market Update 2002
Segmentation of product sizes in the 2002 market
Product (Size range)       Units      MW          kW/unit       Share
0-749kW                    1,719     1,019          593         13.7%
750-1500kW                 3,892     4,127         1,061        55.7%
1501 and up                1,181     2,269         1,922        30.6%
Total                      6,792     7,416         1,092        100.0%




                                                    March 2003 - Page 34
                       World Market Update 2002
Leading suppliers to the three product segments - 2002

            Small turbines      Main Stream         MW-Class       Multi-MW Class
            WTGs < 750 kW    WTGs: 750-1500 kW WTGs: 1501-2500kW   WTGs: >2500kW
Position:                                 Company Name
   1          Vestas, DK       NEG Micon, DK        Vestas, DK       Vestas, DK
   2         Enercon, GE        Gamesa, ES         Enercon, GE     NEG Micon, DK
   3         Gamesa, ES        GE WIND, US          Bonus, DK       Enercon, GE




                                                               March 2003 - Page 35
                           World Market Update 2002
Leading suppliers to the “MW-class” - 2002
WTG larger than 1500 kW             Total MW supplied   Share of the
Position Company                          in 2002       MW-segment
    1      VESTAS Wind System, DK           962           42.4%
    2      ENERCON, GE                      894           39.4%
    3      BONUS Energy, DK                 209            9.2%
    4      NORDEX-Borsig, GE                130            5.7%
    5      NEG Micon, DK                     57            2.5%
Others                                       17            0.8%
Total installed MW:                        2,269           100%




                                                        March 2003 - Page 36
                     World Market Update 2002
Forecast for wind power development 2003-2007 (Global)




                                                               capacity




                                                                                                                             capacity
                             Cumulative installed




                                                                                                                                        Cumulative installed
                             capacity (MW) by




                                                                                                                                        capacity (MW) by
                                                                                                                  between 2003-2007
                             end of in 2002
                                                                                  Forecast 2003-2007




                                                    (MW) in 2002




                                                                                                                                        end of 2007
                                                    Installed




                                                                                                                  Installed
                                2002                2002                   2003    2004   2005     2006   2007    Sum                     Accu.
Total America                  5,087                  494                 1,650   1,450   1,550   2,050   2,150   8,850                  13,937
Total Europe                  23,832                6,163                 6,200   6,420   6,600   7,500   8,080   34,800                 58,632
Total South & East Asia        2,186                  291                  470     620     720     720    840     3,370                   5,556
Total OECD-Pacific                725                 251                  470     540     650     550    750     2,960                   3,685
Total other continents and
                                  207                   28                 175     230     190     225    480     1,300                   1,507
areas:
Total MW new capacity
                                                    7,227                 8,965   9,260   9,710   11,045 12,300 51,280 83,317
every year:

Accu. capacity (MW)          32,037                                       41,002 50,262 59,972 71,017 83,317




                                                                                                           March 2003 - Page 37
                                              World Market Update 2002
Forecast for wind power development 2003-2007 (America)




                                                   capacity




                                                                                                                  capacity
                Cumulative installed




                                                                                                                             Cumulative installed
                capacity (MW) by




                                                                                                                             capacity (MW) by
                                                                                                       between 2003-2007
                end of in 2002
                                                                      Forecast 2003-2007




                                        (MW) in 2002




                                                                                                                             end of 2007
                                        Installed




                                                                                                       Installed
                   2002                 2002                  2003     2004   2005    2006    2007     Sum                     Accu.
Canada               270                    56                150      150    150     250      250       950                   1,220
USA               4,674                   429                 1,400   1,200   1,200   1,500   1,600    6,900                  11,574
The Americas         144                    10                100      100    200     300      300     1,000                   1,144
Total America     5,087                   494                 1,650   1,450   1,550   2,050   2,150    8,850                  13,937




                                                                                              March 2003 - Page 38
                                       World Market Update 2002
Forecast for wind power development 2003-2007 (Asia)




                                                                    capacity




                                                                                                                                capacity
                                  Cumulative installed




                                                                                                                                           Cumulative installed
                                  capacity (MW) by




                                                                                                                                           capacity (MW) by
                                                                                                                     between 2003-2007
                                  end of in 2002
                                                                                      Forecast 2003-2007




                                                         (MW) in 2002




                                                                                                                                           end of 2007
                                                         Installed




                                                                                                                     Installed
                                     2002                2002                  2003    2004   2005   2006   2007     Sum                     Accu.
P.R. China                             473                   67                100     200    200    200     200       900                   1,373
India                               1,702                  220                 350     400    500    500     600     2,350                   4,052

Rest of Asia:     Indonesia, N.
Korea, Malaysia, Philippines,           12                      4              20      20     20     20      40        120                      132
Taiwan, Thailand, Vietnam, etc.
Total Asia                          2,186                  291                 470     620    720    720     840     3,370                   5,556




                                                                                                            March 2003 - Page 39
                                                 World Market Update 2002
                                                                              capacity




                                                                                                                                               capacity
                                            Cumulative installed




                                                                                                                                                          Cumulative installed
                                            capacity (MW) by




                                                                                                                                                          capacity (MW) by
Forecast




                                                                                                                                    between 2003-2007
                                            end of in 2002
                                                                                                 Forecast 2003-2007




                                                                   (MW) in 2002
for wind




                                                                                                                                                          end of 2007
                                                                                                    (incl. Offshore)




                                                                   Installed




                                                                                                                                    Installed
power
develop    Austria
                                               2002
                                                 130
                                                                   2002
                                                                       44
                                                                                         2003
                                                                                          50
                                                                                                  2004
                                                                                                  50
                                                                                                          2005
                                                                                                           50
                                                                                                                   2006
                                                                                                                       50
                                                                                                                            2007
                                                                                                                            100
                                                                                                                                    Sum
                                                                                                                                      300
                                                                                                                                                            Accu.
                                                                                                                                                               430

ment       Belgium
           Denmark
                                                  45
                                              2,880
                                                                       11
                                                                     530
                                                                                          20
                                                                                         250
                                                                                                  120
                                                                                                  100
                                                                                                           50
                                                                                                          100      250
                                                                                                                       50    50
                                                                                                                            300
                                                                                                                                      290
                                                                                                                                    1,000
                                                                                                                                                               335
                                                                                                                                                            3,880

2003-      Finland
           France
                                                  44
                                                 183                   69
                                                                          4               25
                                                                                         150
                                                                                                  50
                                                                                                  200
                                                                                                           50
                                                                                                          500      700
                                                                                                                       50    50
                                                                                                                            800
                                                                                                                                      225
                                                                                                                                    2,350
                                                                                                                                                               269
                                                                                                                                                            2,533

2007       Germany
           Greece
                                             11,968
                                                 462
                                                                   3,247
                                                                     104
                                                                                         3,000
                                                                                         150
                                                                                                 2,800
                                                                                                  150
                                                                                                         2,400
                                                                                                          200
                                                                                                                  2,400
                                                                                                                   200
                                                                                                                            2,400
                                                                                                                            200
                                                                                                                                    13,000
                                                                                                                                      900
                                                                                                                                                           24,968
                                                                                                                                                            1,362

(Europe)   Ireland (Rep.)
           Italy
                                                 167
                                                 806
                                                                       38
                                                                     106
                                                                                          50
                                                                                         250
                                                                                                  100
                                                                                                  300
                                                                                                          100
                                                                                                          300
                                                                                                                   300
                                                                                                                   300
                                                                                                                            100
                                                                                                                            400
                                                                                                                                      650
                                                                                                                                    1,550
                                                                                                                                                               817
                                                                                                                                                            2,356
           Netherlands                           727                 219                 160      200     100      100      100       660                   1,387
           Norway                                 97                   80                100      100     100      200      200       700                      797
           Poland                                 54                   30                 20      20       50          50   100       240                      294
           Portugal                              204                   51                 50      100     100      100      100       450                      654
           Spain                              5,043                1,493                 1,500   1,500   1,600    1,600     1,800   8,000                  13,043
           Sweden                                372                   55                 50      200     200      300      300     1,050                   1,422
           Switzerland                              6                     1               20      20       30          30    30       130                      136
           Turkey                                 19                      0               5       10       20          20    50       105                      124
           UK                                    570                   55                300      350     600      700      900     2,850                   3,420
           Rest of Europe: Other East             55                   28                 50      50       50      100      100       350                      405
           European and Baltic countries.
           Total Europe                      23,832                6,163                 6,200   6,420   6,600    7,500     8,080   34,800                 58,632




                                                                                                                   March 2003 - Page 40
                               World Market Update 2002
                                                                                 capacity




                                                                                                                                           capacity
                                               Cumulative installed




                                                                                                                                                      Cumulative installed
                                               capacity (MW) by




                                                                                                                                                      capacity (MW) by
Forecast




                                                                                                                                between 2003-2007
                                               end of in 2002
                                                                                                   Forecast 2003-2007




                                                                      (MW) in 2002
for wind




                                                                                                                                                      end of 2007
                                                                      Installed




                                                                                                                                Installed
power
develop    Australia & New Zealand
                                                  2002
                                                    225
                                                                      2002
                                                                        119
                                                                                            2003
                                                                                            250
                                                                                                    2004
                                                                                                    300
                                                                                                           2005
                                                                                                           300
                                                                                                                  2006
                                                                                                                  300
                                                                                                                         2007
                                                                                                                         400
                                                                                                                                Sum
                                                                                                                                1,550
                                                                                                                                                        Accu.
                                                                                                                                                        1,775

ment       Japan
           South Korea
                                                    486
                                                     14
                                                                        129
                                                                             4
                                                                                            200
                                                                                            20
                                                                                                    200
                                                                                                    40
                                                                                                           300
                                                                                                           50
                                                                                                                  200
                                                                                                                  50
                                                                                                                         300
                                                                                                                          50
                                                                                                                                1,200
                                                                                                                                  210
                                                                                                                                                        1,686
                                                                                                                                                           224

2003-      Total OECD-Pacific                       725                 251                 470     540    650    550    750    2,960                   3,685


2007       Egypt
           Morocco
                                                     69
                                                     54
                                                                             0
                                                                             0
                                                                                            50
                                                                                            40
                                                                                                    70
                                                                                                    40
                                                                                                           20
                                                                                                           60
                                                                                                                  50
                                                                                                                  60
                                                                                                                         100
                                                                                                                          60
                                                                                                                                  290
                                                                                                                                  260
                                                                                                                                                           359
                                                                                                                                                           314

(RoW)      Other African Countries -
           including: Algeria, Cape Verde,
                                                     25                   11                15      20     10     15      20        80                     105
           Ethiopia, Libya, Tunisia, etc (+
           South Africa).
           Middle East: Jordan, Iran, Iraq,
           Israel, Saudi Arabia, Syria, etc.         32                   15                50      50     50     50     200      400                      432
           (excl. Egypt)
           Transition Economies: including
           Russia, Ukraine, Uzbekistan,              22                      2              20      50     50     50     100      270                      292
           Kazakstan, etc.
           Rest of the world                           5                     0               0       0      0      0      0            0                      5
           Total other continents and
                                                    207                   28                175     230    190    225    480    1,300                   1,507
           areas:




                                                                                                                  March 2003 - Page 41
                                 World Market Update 2002
                          Annual Wind Power Development
                                Actual 1990-2002 & Forecast 2003-2007
     14,000


     12,000


     10,000


      8,000
MW




      6,000


      4,000


      2,000


         0
         1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007


Source: BTM Consult ApS - March 2003                   Europe   USA   Asia   Rest of World   Existing




                                                                                  March 2003 - Page 42
                               World Market Update 2002
                   Global Wind Power Status
                 Cumulative MW by end of 2002 & Forecast 2007
70,000
60,000
50,000
40,000
30,000
20,000
10,000
    0
             Europe               USA          Asia           Rest of World
Source: BTM Consult ApS - March 2003       2002 (32.037 MW)   2007 (83,317 MW)




                                                                March 2003 - Page 43
                        World Market Update 2002
                         The Global Wind Power Market in US$
                                 Expected development 2003-2007
             10,000                                                                     50,000




              8,000                                                                     40,000




                                                                                                 Cumulative mill. US$
              6,000                                                                     30,000
 mill. US$




              4,000                                                                     20,000




              2,000                                                                     10,000



                 0                                                                      0
                      2002    2003      2004        2005         2006          2007
Source: BTM Consult ApS - March 2003           Forecast w orld    World 2002      Cumulative market




                                                                               March 2003 - Page 44
                              World Market Update 2002
                                          Development Patterns in selected European Markets
                12,000



                10,000



                 8,000
Cumulative MW




                 6,000



                 4,000

                                          DK                                                        GE                            SP
                 2,000



                    0
                     1980   1981   1982   1983   1984   1985   1986   1987   1988    1989   1990   1991   1992   1993   1994   1995   1996   1997   1998   1999   2000   2001   2002

                                                                                    Year
Source: BTM Consult ApS - March 2003                                                                                    Denmark              Germany              Spain            UK




                                                                                                                                               March 2003 - Page 45
                                                         World Market Update 2002
Data for 2002 & forecast 2003-2007 (ONLY OFFSHORE)




                                                                  capacity




                                                                                                                                    capacity
                                Cumulative installed




                                                                                                                                               Cumulative installed
                                capacity (MW) by




                                                                                                                                               capacity (MW) by
                                                                                                                         between 2003-2007
                                end of in 2002
                                                                                    Forecast 2003-2007




                                                       (MW) in 2002




                                                                                                                                               end of 2007
                                                                                          (only Offshore)




                                                       Installed




                                                                                                                         Installed
                                   2002                2002                  2003    2004      2005     2006    2007     Sum                     Accu.
Belgium                                 0                     0               20     80          0          0     0        100                      100
Denmark                              233                 183                 160      0          0      150      150       460                      693
Germany                                 0                     0               5      100         0      700     1,100   1,905                    1,905
Ireland (Rep.)                          0                     0               0      60          0      240       0        300                      300
Netherlands                           19                      0               0      100        120     120       0        340                      359
Sweden                                23                      0               40     120         0      200      200       560                      583
UK                                      4                     0               60     240        200     300      300    1,100                    1,104
Total                                279                 183                 285     700        320    1,710    1,750   4,765                    5,044

Offshore’s share of total Europa (% of MW)                                   4.6%   10.9%      4.8%    22.8%    21.7%   14%                         9%

Accu. capacity (MW)                279                                       564    1,264     1,584    3,294    5,044




                                                                                                                   March 2003 - Page 46
                                                   World Market Update 2002
                  Annual Global Wind Power Development
                  Actual 1990-2002 Forecast 2003-2007 Prediction 2008-2012
     28,000




     21,000
MW




     14,000




      7,000




         0
         1990                                    2002                2007                    2012

 Source: BTM Consult ApS - March 2003                   Prediction   Forecast    Existing capacity




                                                                                March 2003 - Page 47
                             World Market Update 2002
                            Global Wind Power Status
                 Cumulative MW - Forecast 2007 & Prediction 2012
110,000
100,000
 90,000
 80,000
 70,000
 60,000
 50,000
 40,000
 30,000
 20,000
 10,000
      0
                 Europe           North America       Asia         Rest of World
Source: BTM Consult ApS - March 2003         2007 (83,317 MW)   2012 (176,862 MW)




                                                                   March 2003 - Page 48
                           World Market Update 2002
                 Cumulative Global Wind Power Development
                   Actual 1990-2002 Forecast 2003-2007 Prediction 2008-2012
       200,000

       175,000

       150,000


       125,000
  MW




       100,000

        75,000

        50,000

        25,000

            0
            1990                                   2002                   2007                  2012

Source: BTM Consult ApS - March 2003                      Prediction   Forecast   Existing capacity




                                                                                  March 2003 - Page 49
                              World Market Update 2002
Electricity from Wind Power
                Cumulative Est. average    Est. average     Est. electricity
                 MW - end Full load hours Capacity Factor   production in
Country/Region     2002                                      2003 TWh**
Germany *)        11,968        1,925         22.0%              23.04
Spain              5,043        2,100         24.0%              10.59
USA                4,674        2,000         22.8%               9.35
Denmark            2,880        2,250         25.7%               6.48
India              1,702        1,800         20.5%               3.06
Italy               806         2,000         22.8%               1.61
The Netherlands     727         2,100         24.0%               1.53
United Kingdom      570         2,628         30.0%               1.50
P.R. China          473         2,100         24.0%               0.99
Greece              462         2,500         28.5%               1.15
Sweden              372         2,100         24.0%               0.78
Rest of World      2,360        2,000         22.8%               4.72
Total             32,037    (avg. 2023)     (avg. 23%)           64.81




                                                               March 2003 - Page 50
                       World Market Update 2002
Growth of Wind Power in a World Wide Generation Context

Generation   Wind Power 1)     Annual All Electricity Generation    Annual
                               Growth Capacity 2)                   Growth
             Capacity Energy    % of    Capacity        Energy       % of
Year           GW      TWh      TWh         GW            TWh        TWh
   1996        6.07    12.23      -       (3,148)       (13,332)   (IEA ‘02)
   1997        7.64    15.39   25.8%       3,229         13,838      3.8%
   1998       10.15    21.25   38.1%       3,312         14,364      3.8%
   1999       13.93    28.18   32.6%       3,397         14,910      3.8%
   2000       18.43    37.30   32.0%       3,478         15,391      3.8%
   2001       24.93    50.27   34.8%       3,562         15,391      2.7%
   2002       32.04    64.81   28.9%       3,647         16,233      2.7%
 2012 (est.)  176.9    402.8   20.0%       4,622         21,133
Average Annual growth
                               24.4%                                 2.8%
1996 through 2012




                                                              March 2003 - Page 51
                       World Market Update 2002
Wind Power Generation’s share of the World-Wide Generation
 Generation       Electricity gen.   Electricity from all     Wind Power's share
 Technology       by Wind Power      gen. technologies      of the worlds Electricity
                     (BTM-C)          (incl. Wind) IEA            Generation:
Year:                  TWh                   TWh                       %
1996                   12.23               13,613                    0.09%
1997                   15.39               13,949                    0.11%
1998                   21.25               14,340                    0.15%
1999                   23.18               14,741                    0.16%
2000                   37.30               15,153                    0.25%
2001                   50.27               15,577                    0.32%
2002                   64.81               16,233                    0.40%
2007 (forecast)        175.2               18,546                    0.94%
2012 (est.)            402.8               21,133                    1.91%




                                                                      March 2003 - Page 52
                            World Market Update 2002
Feed in tariffs for wind electricity in selected countries
Part 1 of 2                                        1 Euro = 1.072 USD
         Country     Rate per kWh                                      Comments
                      Euro-cent
         Austria          7.80    New tariff from 1.1.2003 lower than the earlier 10.9 EUR cent.
         Australia        4.40    Divided almost half & half between energy price and environmental bonus.
                                  The tarif consists 5.0 EURcent + 2.5 EURcent (green certificate). The 5.0
         Belgium          7.50
                                  EURcent is fixed for 10 years.
                                  The 3.63 consist of price from Nordpool plus 1.2 EURcent as compensation for
                                  the lack of a Green Certificate, which is set on hold for an undetermined time. Up
         Denmark          3.63
                                  to 9 EUR Cents for Wind turbines established by end 2002 (applying to the Re-
                                  powering scheme) for the first 12,000 full load hours - equals 4-5 year.
                                  Rates for the initial 5 years, thereafter a level from down to 3.05 EUR Cent per
         France           8.36
                                  kWh in high wind regime in the next 10 years.
                                  Feed in law as of March 2000. The rates will apply for initial 5 years of operation
         Germany          9.10    and thereafter the overall feed in rate will be adjusted to reference "energy-
                                  values" for the respective location.
                                  Rates are different by location. Mainland wind energy producers gets 90 per cent
         Greece         5.75 - 7  of the consumer price around 5.75 per kWh Wind farms without grid access to
                                  mainland gets 7.0 cent per kWh. 40 per cent grant of capital cost possible.
                                    Projects larger than 3 MW get the indicated rate of 4.8 cent and smaller
         Ireland       4.8 - 5.3    installations gets 5.3 cent. Bidding process have been used under the AER 5
                                    (Alternative Energy Requirement).
                                    11,7 EUR cent for the first 8 years ,and thereafter EUR 5.35. In 2002 electric
                                    utilities must deliver at least 2% from RES. Green Certificate market to be
         Italy           11.70
                                    introduced with a level of 6.7 EUR cent per kWh plus the energy price at the
                                    market at 5.0 EUR cent total 11.7 EUR cent.




                                                                                        March 2003 - Page 53
                             World Market Update 2002
Feed in tariffs for wind electricity in selected countries
Part 2 of 2                                       1 Euro = 1.072 USD

      Country       Rate per kWh                                     Comments
                     Euro-cent
                                   Rates for projects realised in 2002 and 2003 . Further subsidies up to 50% of the
      Japan            10.50       capital cost can be obtained for public companies and 33% for private
                                   companies.
                                   Renewable energy producers will receive this price due to strong consumer
      Netherlands       8-9        demand for green energy. RES is imported from other European countries. NUON
                                   has indicated to buy Green Certificates from Statkraft in Norway.
                                   Nordpool price have been high during winter period 2002. Government subsidies
      Norway            3.20       can be obtained of up to 25% of the capital cost. NUON has indicated to buy
                                   Green Certificates from Statkraft.
                                   Rates of two components the market price for electricity plus an incentive of 3.0
                                   EUR cent. Price per kWh can only be obtained for producers up to 50 MW size
      Spain             6.27
                                   projects. Turbine owners have the option to get a full fixed price for their
                                   electricity.
                                   Eco bonus per kWh of 2.25 EUR cent. Smaller plants, less than 1.5 MW, gets
      Sweden            5.25       additional 1.2 EUR cent kWh. Green certificate market in progress. Investment
                                   grants of 15% of the capital cost possible from government funds.
                                   Governmental requirement of 3 per cent from RES and non compliance will cost
      UK             7.35 - 7.84   4.5 EUR Cent per kWh.
                                   10 years PTC at $0.017/kWh is available for projects installed until the end of
      USA               3.73
                                   2003.




                                                                                      March 2003 - Page 54
                               World Market Update 2002
Wind manufacturers insourcing trend
                                          Insourcing focus
Company                                [blade length & range]
NEG Micon (DK)                 30 m. and 40 m.
GE (Enron Wind) (US)           34 m., 37.5 m. (>50 m. in future)
Bonus (DK)                     30 m. and 40 m.
Nordex (GE)                    30 m., 35 m., 38 m., 40 m., 44 m.
Suzlon (Ind)                   30 m., 32 m.
Mitsubishi (JP)                30 m.




                                                         March 2003 - Page 55
                       World Market Update 2002
Some 2.75-6 MW wind turbine prototypes (2002–2007)
                                Rotor dia.    Capacity      Power control            Operation
 Make & Type                       [m.]         [MW]           [method]               [Status]
 Bonus xx (DK)                     n.a.        ± 3-3.5    n.a.                 Prototype 2003
 DeWind Dxx (UK/GE)                n.a.         3.5-5     DD, VS, Pitch        n.a.
 Enercon E112 (GE)                 112           4.5      DD, VS, Pitch        Prototype 2002
 GE 3.2s (US)                      104           3.2      GD, VS, Pitch        n.a.
 GE 3.6 Offshore (US)              100           3.6      GD, VS, Pitch        Prototype 2002
 NEG Micon NM 92/2750 (DK)          92           2.75     GD, VS, Pitch        Prototype 2002
 NEG Micon NM xx/xxxx (DK)        >100           ±4       GD, VS, Pitch        Prototype 2003
 NM (DOWEC) 6 MW (DK/NL)           129           6.0      GD, VS, Pitch        Pre-feasibility study
 Nordex Nxx (GE)                 115-120         5.0      GD, VS, Pitch        Prototype 2004/5
 Pfleiderer Multibrid (GE)         125           5.0      HD, VS, Pitch        Prototype 2003
 REpower 5M (GE)                   125           5.0      GD, VS, Pitch        Prototype 2004
 Vestas V90 (DK)                    90           3.0      GD, VS, Pitch        Prototype 2002
 Vestas Vxx (DK)                   n.a.          5.0      n.a.                 n.a.
 WinWind WW2.6.94 (SF)              94           2.6      HD, VS, Pitch        n.a.
 WinWind WW3.90 (SF)                90           3.0      HD, VS, Pitch        Prototype 2003
 W.I.P. 5 MW (GE)*                 n.a.          5.0      n.a.                 Prototype 2003/4

 AS = Active Stall
 CS = Constant or fixed speed
 DD = Direct Drive
 GD = Gear Drive
 HD = Hybrid Drive                           * WIP is a Munich based project developer
 VS = Variable Speed                         Source: WindStats Newsletter [4]; Suppliers, 2/2003




                                                                                       March 2003 - Page 56
                                World Market Update 2002
Nacelle and tower head mass of three (proposed) 4.5–5
MW prototypes

                             Capacity   Nacelle mass     Tower head mass
Make & Type                   [MW]      [Metric Tons]      [Metric Tons]
Enercon E-112                  4.5           400                500
Pfleiderer Multibrid           5.0          ± 230              ± 330
REpower 5M                     5.0        250-280            350-380




                                                        March 2003 - Page 57
                       World Market Update 2002
                     Installed capacity in Australia
                                 No. of MW (1990-2002)
     250                                                                           500


     200                                                                           400




                                                                                         Cumulative MW
     150                                                                           300
MW




     100                                                                           200


     50                                                                            100


      0                                                                            0
           1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
                 Installed MW     Forecast      Cumulative     Cumul. forecast

Source: BTM Consult ApS - March 2003




                                                                            March 2003 - Page 58
                            World Market Update 2002
               2002 Market Shares in Australia
                               % of 119MW in total

                                                     Vestas
                                                     26.6%




       NEG Micon
         73.4%


Source: BTM Consult ApS - March 2003




                                                       March 2003 - Page 59
                        World Market Update 2002
                      Installed capacity in Canada
                                 No. of MW (1990-2002)
     250                                                                           500


     200                                                                           400




                                                                                         Cumulative MW
     150                                                                           300
MW




     100                                                                           200


     50                                                                            100


      0                                                                            0
           1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
                 Installed MW     Forecast      Cumulative     Cumul. forecast

Source: BTM Consult ApS - March 2003




                                                                           March 2003 - Page 60
                            World Market Update 2002
                2002 Market Shares in Canada
                               % of 56MW in total



   Vestas
   98.7%




                                                       Lagerw ey
                                                         1.3%




Source: BTM Consult ApS - March 2003




                                                    March 2003 - Page 61
                         World Market Update 2002
                     Installed capacity in China
                               No. of MW (1985-2002)
     120                                                                  600


     100                                                                  500




                                                                                Cumulative MW
     80                                                                   400
MW




     60                                                                   300

     40                                                                   200


     20                                                                   100


      0                                                                   0
       85
       86
       87
       88
       89
       90
       91
       92
       93
       94
       95
       96
       97
       98
       99
       00
       01
       02
       03
     19
     19
     19
     19
     19
     19
     19
     19
     19
     19
     19
     19
     19
     19
     19
     20
     20
     20
     20
              Installed MW      Forecast   Cumulative   Cumul. forecast

Source: BTM Consult ApS - March 2003




                                                                      March 2003 - Page 62
                             World Market Update 2002
                  2002 Market Shares in China
                                % of 71MW in total
                                                     Nordex
                                                     45.4%


   Goldw ind
    19.5%




           MADE
           5.6%                                          NEG Micon
                     DeWind
                                        Vestas             11.3%
                      4.2%
Source: BTM Consult ApS - March 2003    14.0%




                                                              March 2003 - Page 63
                       World Market Update 2002
                      Installed capacity in Denmark
                                     No. of MW (1981-2002)
     650                                                                                    3,250
     600                                                                                    3,000
     550                                                                                    2,750
     500                                                                                    2,500
     450                                                                                    2,250




                                                                                                    Cumulative MW
     400                                                                                    2,000
     350                                                                                    1,750
MW




     300                                                                                    1,500
     250                                                                                    1,250
     200                                                                                    1,000
     150                                                                                    750
     100                                                                                    500
      50                                                                                    250
       0                                                                                    0
       81


              83

                     85


                            87

                                    89


                                            91

                                                   93


                                                          95

                                                                 97


                                                                        99


                                                                               01


                                                                                      03
     19


            19

                   19


                          19

                                  19


                                          19

                                                 19


                                                        19

                                                               19


                                                                      19


                                                                             20


                                                                                    20
                   Installed MW          Forecast       Cumulative       Cumul. forecast
Source: BTM Consult ApS - March 2003




                                                                                      March 2003 - Page 64
                            World Market Update 2002
               2002 Market Shares in Denmark
                               % of 538MW in total
                 NEG Micon                           Nordex
                   30.8%                              5.9%




      Bonus
      13.7%


                                                     Vestas
                                                     49.5%
Source: BTM Consult ApS - March 2003




                                                              March 2003 - Page 65
                         World Market Update 2002
                  Installed capacity in Germany
                               No. of MW (1987-2002)
     4,000                                                                16,000

     3,500                                                                14,000

     3,000                                                                12,000




                                                                                   Cumulative MW
     2,500                                                                10,000
MW




     2,000                                                                8,000

     1,500                                                                6,000

     1,000                                                                4,000

      500                                                                 2,000

        0                                                                 0
         87

         88
         89

         90
         91

         92
         93

         94
         95

         96
         97
         98
         99

         00

         01
         02
         03
       19

       19
       19

       19
       19

       19
       19

       19
       19

       19
       19
       19
       19

       20

       20
       20
       20
              Installed MW      Forecast   Cumulative   Cumul. forecast

Source: BTM Consult ApS - March 2003




                                                                   March 2003 - Page 66
                        World Market Update 2002
               2002 Market Shares in Germany
                              % of 3,244MW in total
               Others                                 Enercon
                                                       34.0%
       REPOWER 0.2%
          6.8%
     DeWind
      2.5%


   Nordex
    8.8%



    Fuhrländer                                                   Vestas
      1.4%                                                       17.9%
             GE Wind
               13.1%              Bonus        NEG Micon
                                  6.9%           8.3%
Source: BTM Consult ApS - March 2003




                                                                March 2003 - Page 67
                        World Market Update 2002
                       Installed capacity in Greece
                                 No. of MW (1990-2002)
     175                                                                           770

     150                                                                           660

     125                                                                           550




                                                                                         Cumulative MW
     100                                                                           440
MW




     75                                                                            330

     50                                                                            220

     25                                                                            110

      0                                                                            0
           1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
                  Installed MW     Forecast      Cumulative     Cumul. forecast
Source: BTM Consult ApS - March 2003




                                                                          March 2003 - Page 68
                          World Market Update 2002
                     2002 Market Shares in Greece
                                 % of 104MW in total
                             Vestas
                Enercon       2.5%
                 8.3%




                                                           NEG Micon
                                                             52.9%



     Bonus
     30.0%



                                Nordex
                                 6.2%
Source: BTM Consult ApS - March 2003




                                                       March 2003 - Page 69
                          World Market Update 2002
                       Installed capacity in France
                                 No. of MW (1990-2002)
     160                                                                           400
     150
     140                                                                           350
     130
     120                                                                           300
     110




                                                                                         Cumulative MW
     100                                                                           250
      90
MW




      80                                                                           200
      70
      60                                                                           150
      50
      40                                                                           100
      30
      20                                                                           50
      10
       0                                                                           0
           1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
                  Installed MW     Forecast      Cumulative     Cumul. forecast
Source: BTM Consult ApS - March 2003




                                                                         March 2003 - Page 70
                         World Market Update 2002
                2002 Market Shares in France
                               % of 69MW in total

                                                        Vestas
                                                        15.2%

     Nordex                                                  Repow er
     51.7%                                                    2.2%


                                                             Lagerw ey
                                                               4.4%




                                                    Gamesa
                                  NEG Micon          22.2%
                                     4.4%
Source: BTM Consult ApS - March 2003




                                                         March 2003 - Page 71
                        World Market Update 2002
                     Installed capacity in India
                              No. of MW (1985-2002)
     450                                                                 2,250

     400                                                                 2,000

     350                                                                 1,750




                                                                                 Cumulative MW
     300                                                                 1,500

     250                                                                 1,250
MW




     200                                                                 1,000

     150                                                                 750

     100                                                                 500

     50                                                                  250

      0                                                                  0
       85
       86
       87
       88
       89
       90
       91
       92
       93
       94
       95
       96
       97
       98
       99
       00
       01
       02
       03
     19
     19
     19
     19
     19
     19
     19
     19
     19
     19
     19
     19
     19
     19
     19
     20
     20
     20
     20
             Installed MW      Forecast   Cumulative   Cumul. forecast

Source: BTM Consult ApS - March 2003




                                                                    March 2003 - Page 72
                        World Market Update 2002
                   2002 Market Shares in India
                              % of 220MW in total
              Vestas                                Enercon
               7.9%                                  30.1%

        Wincon
         1.6%                                                          GE Wind
                                                                        0.5%




       NEG Micon                                              Suzlon
         33.1%                                                26.9%



Source: BTM Consult ApS - March 2003




                                                                March 2003 - Page 73
                        World Market Update 2002
                          Installed capacity in Italy
                                 No. of MW (1990-2002)
     300                                                                           1,200


     250                                                                           1,000


     200                                                                           800




                                                                                           Cumulative MW
MW




     150                                                                           600


     100                                                                           400


     50                                                                            200


      0                                                                            0
           1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
                 Installed MW     Forecast      Cumulative      Cumul. forecast
Source: BTM Consult ApS - March 2003




                                                                            March 2003 - Page 74
                            World Market Update 2002
                    2002 Market Shares in Italy
                               % of 178MW in total




    Enercon
     17.9%



                                                        Vestas
                                                        82.1%




Source: BTM Consult ApS - March 2003




                                                     March 2003 - Page 75
                        World Market Update 2002
                       Installed capacity in Japan
                                 No. of MW (1990-2002)
     250                                                                           750


     200                                                                           600




                                                                                         Cumulative MW
     150                                                                           450
MW




     100                                                                           300


     50                                                                            150


      0                                                                            0
           1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
                 Installed MW     Forecast      Cumulative     Cumul. forecast

Source: BTM Consult ApS - March 2003




                                                                           March 2003 - Page 76
                           World Market Update 2002
                        2002 Market Shares in Japan
                                  % of 129MW in total
                        GE Wind                         NEG Micon
                         1.2%                             23.3%
               Vestas                                               DeWind
                9.6%                                                 0.5%
                                                                       Nordex
  Mitsubishi
                                                                       12.2%
    3.7%




                                               Lagerw ey
                                                 49.5%
Source: BTM Consult ApS - March 2003




                                                                     March 2003 - Page 77
                              World Market Update 2002
               Installed capacity in the Netherlands
                                  No. of MW (1990-2002)
     250                                                                           1,000


     200                                                                           800




                                                                                           Cumulative MW
     150                                                                           600
MW




     100                                                                           400


     50                                                                            200


      0                                                                            0
           1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
                 Installed MW     Forecast      Cumulative      Cumul. forecast

Source: BTM Consult ApS - March 2003




                                                                          March 2003 - Page 78
                          World Market Update 2002
        2002 Market Shares in the Netherlands
                           % of 219MW in total
                                                 Enercon
                                                  9.9%

                                                            Nordex
                                                            10.3%
                                                               Lagerw ey
                                                                 1.6%

      Vestas
      56.6%

                                                              NEG Micon
                                                                12.8%
                                                       GE Wind
                                                  Bonus 5.5%
                                                  3.4%

Source: BTM Consult ApS - March 2003




                                                                March 2003 - Page 79
                        World Market Update 2002
                         Installed capacity in Spain
                                   No. of MW (1990-2002)
     1,600                                                                           7,200

     1,400                                                                           6,300

     1,200                                                                           5,400




                                                                                             Cumulative MW
     1,000                                                                           4,500
MW




      800                                                                            3,600

      600                                                                            2,700

      400                                                                            1,800

      200                                                                            900

        0                                                                            0
             1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
                   Installed MW     Forecast       Cumulative      Cumul. forecast
Source: BTM Consult ApS - March 2003




                                                                             March 2003 - Page 80
                            World Market Update 2002
                      2002 Market Shares in Spain
                               % of 1.618MW in total

       Bonus                                               Gamesa
       4.9%                                                 51.8%




Ecotécnia
  7.4%


      NEG Micon
        11.0%
                                       Lagerw ey   Made
                         GE Wind
                                         2.5%      14.5%
                           7.9%
Source: BTM Consult ApS - March 2003




                                                           March 2003 - Page 81
                       World Market Update 2002
                      Installed capacity in Sweden
                                 No. of MW (1990-2002)
     60                                                                           490


     50                                                                           420

                                                                                  350
     40




                                                                                        Cumulative MW
                                                                                  280
MW




     30
                                                                                  210
     20
                                                                                  140

     10                                                                           70

     0                                                                            0
          1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
                 Installed MW     Forecast     Cumulative     Cumul. forecast

Source: BTM Consult ApS - March 2003




                                                                          March 2003 - Page 82
                            World Market Update 2002
                    2002 Market Shares in Sweden
                                  % of 55MW in total
                   NEG Micon
           GE Wind   3.7%
            8.3%


                                                           Vestas
                                                           56.2%




          Enercon
           31.9%


Source: BTM Consult ApS - March 2003




                                                       March 2003 - Page 83
                        World Market Update 2002
                        Installed capacity in the UK
                                  No. of MW (1990-2002)
     350                                                                           1,050

     300                                                                           900

     250                                                                           750




                                                                                           Cumulative MW
     200                                                                           600
MW




     150                                                                           450

     100                                                                           300

     50                                                                            150

      0                                                                            0
           1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
                 Installed MW     Forecast       Cumulative     Cumul. forecast
Source: BTM Consult ApS - March 2003




                                                                           March 2003 - Page 84
                           World Market Update 2002
                     2002 Market Shares in the UK
                                 % of 55MW in total

        GE Wind
          4.9%
NEG Micon
  5.5%


  Enercon
   2.2%
                                                          Vestas
                                                          80.3%
     Bonus
     7.1%




Source: BTM Consult ApS - March 2003




                                                      March 2003 - Page 85
                        World Market Update 2002
                       Installed capacity in the USA
                                     No. of MW (1981-200)
     1,800                                                                                  6,300

     1,600                                                                                  5,600

     1,400                                                                                  4,900




                                                                                                    Cumulative MW
     1,200                                                                                  4,200

     1,000                                                                                  3,500
MW




      800                                                                                   2,800

      600                                                                                   2,100

      400                                                                                   1,400

      200                                                                                   700

        0                                                                                   0
         81

                83

                       85

                              87

                                     89

                                            91

                                                   93

                                                          95

                                                                 97


                                                                        99

                                                                               01

                                                                                      03
       19

              19

                     19

                            19

                                   19

                                          19

                                                 19

                                                        19

                                                               19


                                                                      19

                                                                             20

                                                                                    20
                 Installed MW         Forecast          Cumulative       Cumul. forecast

Source: BTM Consult ApS - March 2003




                                                                                     March 2003 - Page 86
                            World Market Update 2002
                      2002 Market Shares in the USA
                                 % of 429MW in total
                                                  NEG Micon
                                                    27.8%

      Mitsubishi
        5.9%




    GE Wind
     14.3%

                                                              Vestas
                                                              40.2%
                   Bonus
                   11.2%      Nordex
                               0.6%
Source: BTM Consult ApS - March 2003




                                                              March 2003 - Page 87
                           World Market Update 2002
    - A Danish Consultancy Company -

              Specialized in Wind Energy Utilization


Contact information: BTM Consult ApS
                     I. C. Christensens Allé 1
                     DK-6950 Ringkøbing - Denmark
                     Tel: +45 97 32 52 99, Fax: +45 97 32 55 93
                     E-mail: btm@btm.dk & pk@btm.dk
                     http://www.btm.dk



                                                 March 2003 - Page 88
                   World Market Update 2002

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:2
posted:2/11/2012
language:
pages:88