China's northeastern industrial province of Liaoning is accelerating its shift from fossil fuels to renewable energy, with a series of recent policy moves signaling profound changes in its energy mix. While wind power projects are attracting massive investments, solar development faces structural challenges that have kept its market share below national averages.

Despite policy support, Liaoning remains a relatively small player in China's renewable energy sector. Data shows the province accounted for just 2.82% of national wind power project awards in 2024 (20 projects totaling $19.1 billion) and a mere 0.89% of solar projects (22 projects worth $8.5 billion). The particularly low photovoltaic market share highlights developmental gaps in Liaoning's solar industry.

A March 1 signing ceremony in Beijing saw Liaoning secure four major wind projects totaling 4.5GW with investments exceeding $40 billion. Key developments include:

• Shenyang Green Fuel Base: $44 billion project by China Energy Engineering Corporation featuring 2GW of wind capacity.
• Fuxin Integrated Energy Base: $10.1 billion State Power Investment Corp project combining 1GW wind with thermal storage.
• Yingkou Offshore Wind Farm: 700MW marine project representing Liaoning's coastal ambitions.
• Dalian Wind Power Industrial Park: Comprehensive hub for offshore wind manufacturing and operations.

Liaoning's 7GW offshore wind tender for 2024 saw China Huadian (2GW) and SPIC (1GW) claim top shares, followed by CGN and ZhaoYun New Energy (800MW each). The results confirm state-owned enterprises' commanding position in the province's marine energy sector.

The provincial Development and Reform Commission recently unveiled draft plans for 7GW of new renewable capacity in 2025 (2GW wind, 5GW solar), introducing competitive allocation mechanisms to improve project quality. Analysis of 2024 awards shows China Energy Investment, Huaneng, Huadian, CNNC and China Energy Engineering as dominant players—a pattern likely to continue given their financial and technical advantages.

Liaoning's aggressive renewable push—part of an $800 billion "14th Five-Year Plan" featuring 48 clean energy projects—has nearly met its 2025 target of 30GW capacity (achieving 29.69GW by end-2024). However, obstacles remain:

• Natural Constraints: Bohai Sea restrictions, ecological protections, cold winters and limited sunlight hinder siting options.
• Solar Supply Chain Weakness: Lack of local PV champions creates material dependency and cost pressures.
• Post-2025 Strategy: Early target completion may slow additional policy incentives in the near term.

Wind energy currently offers stronger prospects in Liaoning, benefiting from established policy support and industrial foundations. All five major Chinese turbine manufacturers (Goldwind, Envision, Mingyang, Windey and Shanghai Electric) have established operations in the province. Solar development faces steeper technical and economic hurdles despite the 2025 capacity emphasis.

Investors should monitor government allocation patterns and market competition closely, particularly in offshore wind where project scales and capital requirements favor large state players. While Liaoning's energy transition shows strong momentum, its asymmetrical development between wind and solar sectors requires differentiated investment approaches.