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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 (Spain), Enel Green Power (Italy), and IBERDROLA (Spain).
The total value of the wind market is expected to grow from about $74 billion in 2012 to nearly $110 billion in 2017, 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 include China, which installed 13.2 GW of wind power capacity in 2012, followed by the US (13.1 GW), Germany (2.4 GW), India (2.3 GW), and the UK (1.9 GW), according to the Global Wind Energy Council. While development has stagnated or dropped in several European markets, 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. High growth is forecast for the next two years, driven by an increase in demand for renewable energy.
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 ...
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