Coronavirus company news summary – $2.5bn of renewables investment in South East Asia – Wudongde hydro begins generation

30 June 2020 (Last Updated June 30th, 2020 09:34)

30 June

The South East Asia Clean Energy Facility is looking to give $2.5bn in clean energy investment to support the region's green recovery from its Covid-19 downturn. Investment committee member Mason Wallick told Thomson Reuters Foundation: “It’s a big market that should be coming up the curve in a more meaningful way to promote renewables now that they are economic and can fit within the power supply plans for these countries.”

The first unit of China’s giant Wudongde hydro project has started generating power. The station on the upper Yangtze river has 12 hydro-generator units, each with a capacity of 850MW. The project has a designed capacity of more than 10GW.

Xcel Energy has completed upgrades to the $9m Amarillo electric distribution system in Texas, carrying out the work throughout the area's Covid-19 lockdown. Moreover, the company is also working on upgrades to lines in the San Jacinto area and other neighborhoods to ease bottlenecks for peak summer demand.

Japanese telecom giant Nippon Telegraph and Telephone is aiming to expand its renewable energy capacity to 7.5GW by 2030. Nikkei reported the company will make an investment of $9.3bn (JPY1trn) to achieve this.  Most of the additional capacity is expected to come from solar and offshore wind power.