NEWS RELEASE FEBRUARY 2016
Asia Will Be the Largest Purchaser of Gas Turbine - Combined Power Plants This Year
In 2016 more than 73,000 MW of gas turbine power generators will start operation. Forty-five percent of the total will be in Asia.
|Gas Turbine Starts (MW)|
The lower cost of natural gas is having an impact on the Asian market. LNG imports will provide the needed fuel for future growth. The U.S. market is robust due to both low gas prices and environmental deterrents to coal-fired generation.
A steady growth rate in capacity is anticipated despite competition from renewable sources such as wind and solar. The differential cost between gas turbine based electricity and that from wind and solar has widened with plunging oil and gas prices.
The forecasts through 2021 are available in two services provided by McIlvaine.
This forecast is updated quarterly and included in a very comprehensive program 59EI Gas Turbine and Reciprocating Engine Supplier Program. Purchasers of the spreadsheetcan later deduct this price if they then purchase 59EI.