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Wind power has been a mature technology for many years now in demand all over the world with an orderly, gradual and predictable growth.
Wind energy is the most reliable and effective renewable energy source for responding to growing demand –in view of the foreseeable depletion of traditional (fossil) and non-renewable energy sources-. Likewise it guarantees economic competitiveness and is one of the factors driving the reduction in pool prices in many countries.
Wind energy, like the other renewable energy sources, prevents the emission of CO2, is a limitless resource and reduces nations’ energy dependence; however it is markedly different from the other renewable sources in the following two respects: its industrial nature (meaning the existence of a national industry built around proprietary technology with longer development periods - eight years to develop a wind farm - and higher capex requirements) and technological maturity, with the sector firmly established on the learning curve, a factor driving price competitiveness.
There are five factors which will continue to drive growth in the wind power sector medium- and long-term:
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