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particularly for OEM turbine manufacturers that bundle service offerings with equipment sales. Chinese OEMs are increasing their global presence and, as a result, Chinese exports of wind services are growing. For instance, Xinjiang Goldwind Science & Technology (Goldwind) is expanding internationally; currently, it generates 10 percent of its revenues overseas. 144 Chinese exports of wind-powered generating sets 145 increased from $78 million in 2007 to $467 million in 2012, with 39 percent of 2012 exports going to the United States.146 In addition to established markets like the United States, Chinese OEMs are reportedly seeking to increase their presence in Latin America, including in Argentina, Bolivia, Brazil, Chile, and Ecuador, as well as in Africa.147 Some Chinese firms reportedly have improved product offerings that, combined with low prices and the firms’ access to low-cost financing, make Chinese turbines competitive in some of these markets.148 Chinese service providers are also increasing their presence outside of their home market. For example, Chinese project developer HydroChina is developing wind power projects in counties such as Bolivia, Ethiopia, and Pakistan.149 Investment The United States is considered to be a desirable market for foreign investors, as illustrated by the strong commercial presence of foreign wind service firms. European firms have sought investments in the U.S. market as a way to leverage their expertise in a market with expanding capacity.150 European utilities in particular have invested in the U.S. market. For example, in 2007, Spain’s Iberdrola acquired U.S. developer CPV Wind Ventures, as well as U.S. utility PPM Energy as part of its acquisition of Scottish Power.151 Foreign investment declined as growth in the U.S. wind industry slowed in 2010 and 2011.152 However, it has since rebounded. One example is India-based Trishe Wind Energy, which acquired U.S. project developer National Wind LLC in 2012. Another is Australian private equity fund AMP Capital, which announced in February 2013 that it would invest $100 million in U.S. wind developer Capistrano Wind Partners.153 144 Xiao, “Goldwind, Change is in the Air,” December 2012, 46. 145 Wind-powered generating sets include nacelles and any items imported with the nacelle, such as the blades or hub. If these components are imported or exported separately from the nacelle, they are included in different HS subheadings. Wind-powered generating sets are included in 8502.31 in the international Harmonized Commodity Description and Coding System (HS). 146 China accounted for 6.9 percent of global exports. Chinese export data may include some exports by non-Chinese firms from their plants in China. GTIS, Global Trade Atlas database (accessed July 9, 2013). 147 McGovern, “China Puts Bolivia on Wind Map,” March 11, 2013; industry representative, interview by USITC staff, Beijing, May 17, 2013; David and Fravel, “U.S. Wind Turbine Export Opportunities,” June 2012; Qi, “Sany Wins 153MW Ethiopian Contract,” May 20, 2013. 148 Industry representative, interview by USITC staff, Beijing, May 16 and May 17, 2013; Nielsen, “China Grabs Share,” November 20, 2012; Qi, “Sany Wins,” May 20, 2013. 149 Qi, “Sany Wins 153MW Ethiopian Contract,” May 20, 2013; McGovern, “China Puts Bolivia on Wind Map,” March 11, 2013; Qi, “Hydrochina Wins 30MW Deal in Pakistan,” June 4, 2013. 150 Weyndling, “Frustrated Spanish Wind Sector Looks Abroad,” June 28, 2011; Scott, “A Spanish Blowout,” October 29, 2008. 151 Anderson and Gibson, “Despite Uncertainty, Foreign Investors Eye U.S. Market,”April 2012, 28; Lima, “EDP Buys Horizon Wind from Goldman,” March 27, 2007; BNEF database, n.d. (accessed January 11, 2013). 152 Analysis by USITC using data from BNEF. 153 Quilter, “AMP Capital to Invest $100 Million,” February 12, 2013. 4-24PDF Image | Renewable Energy and Related Services: Recent Developments
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