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Companies in this industry operate power generation facilities that use turbines to convert wind into electricity. Major companies include US-based Caithness, EDF Renewable Energy (part of French company EDF Energies Nouvelles), and NextEra Energy, as well as EDP Renováveis and IBERDROLA (both based in Spain), and Enel Green Power (Italy).
The total value of the world's wind market is expected to grow to nearly $110 billion in 2017 from about $74 billion in 2012, according to Navigant Research. Global wind turbine capacity totals more than 280 gigawatts (GW), enough to supply nearly 3 percent of the world's energy needs. Major sources of the world's new wind farm development are China, followed by the US, Germany, India, and the UK, according to the Global Wind Energy Council. China, Brazil, India, and Latin America represent new development opportunities for global wind power generators.
The US wind power generation industry includes about 200 companies that operate varying numbers of wind turbine farms.
Demand for wind power generation is driven by public support for alternative, nonpolluting renewable energy production methods, along with government incentives that encourage the production and use of renewable energy. Profitability of individual companies depends on strategically locating wind farms in geographies with sufficient wind conditions and access to electric transmission facilities. Large companies often have other energy holdings (such as traditional electricity generation plants and energy distribution operations), enjoy economies ...
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