Pairing international expertise with local knowledge and nurturing the supply chain and necessary infrastructure are also needed to develop new, emerging markets, he said.

"The next big markets are really anywhere where people are going to start moving to an auction system. That is where we will see the growth," he told Windpower TV.

"It shows the national or regional governments are serious about brining in more renewables."

He cited Taiwan, where the government had held auctions and established European developers had formed partnerships with local contractors, as a success in this regard.

"We talk about Taiwan as currently a hot market, but they have only just switched to an auction-based system," he said.

"We are already seeing the benefits of that. I think it is (also) quite a sustainable market."