Wind Power
Wind Power in Emerging Markets
Power is the backbone of any economy in today’s world. But the high price of fossil fuel is forcing countries to focus on renewable energy sources. As a result, more technologically-developed countries have replaced a considerable portion of their fossil fuel power with renewable sources to sustain concrete growth. But, according to “Wind Power: Opportunities in Emerging Markets”, emerging countries, who have just started their journeys, also need to maintain a robust power supply for a number of reasons: most of the emerging economies are preferred destinations for industrial and manufacturing plants set up by developed countries, development of power grid connectivity has boosted up the power consumption, and increasing population has fueled the power requirement in developing economies. However, rising fossil fuel prices are challenging the growth potential of these countries. Therefore, like developed countries, these nations too are adding renewable sources in their power mix.
For many of these emerging countries, wind power seems to be the best choice as it is relatively low cost than other renewable sources and is a cleaner source of energy. With technological development, wind will become a highly competitive source for power generation, creating business opportunities for manufacturing and material innovations. This, in turn, will boost the manufacturing sector of the emerging countries.
