Coronavirus company news summary

14 April 2020 (Last Updated April 14th, 2020 09:30)

14 April

Siemens will not lay off employees in spite of the economic downturn caused by the Covid-19 coronavirus pandemic, the company’s CEO Joe Kaeser said. Until now, only 1,600 out of 120,000 Siemens workers in Germany are on short-time work. “No one at Siemens will leave because of a temporary fluctuation in activity,” Kaeser said in an interview to Passauer Neue Presse, “but I can’t rule out that there will be more”.

Danish renewable energy company Orsted has expressed concerns that the ongoing Covid-19 coronavirus pandemic may delay auctions for offshore projects in Japan. “The pandemic will not influence investment decisions and general confidence in offshore wind, but it could delay the projects’ timeline,” Orsted Asia-Pacific president Matthias Bausenwein told Reuters.

India’s Ministry of New and Renewable Energy (MNRE) has reiterated the must-run status accorded to renewable energy projects to make sure they remain unaffected by the nationwide lockdown. To insulate the sector, the ministry has ordered that payments to renewable energy generators should not be delayed and extended commissioning deadlines for renewable energy project developers.

China Technology Solar Power has said that it expects no revenue for three months from the sale of products related to solar power and new energy power system integration business. The company’s business units signed contracts for sales of towers for wind turbines for RMB189.6m ($26.8m) and RMB60m ($8.5m), respectively, according to Eikon.