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Coronavirus company news summary – Asian renewables predicted to exceed 1,500GW by 2030 – Ørsted completes cable works for Hornsea Two

06 Jan 2021 (Last Updated January 6th, 2021 10:00)

6 January

Electricity demand in Singapore will bounce back in 2021, according to the country’s second energy minister. The Southeast Asian city-state’s power demand dropped by around 2% to 4% during the pandemic in 2020. While natural gas generates 95% of electricity generated in Singapore, solar power capacity in the country has expanded in the last decade, as the current government aims for solar to generate 3% of consumption by 2030.

US credit rating agency Fitch Solutions has predicted solar and offshore wind generation in Asia will more than double by the end of decade, surpassing 1,500GW. Solar power is considered the main driver of growth in the Asian renewables segment, as China is expected add more than 263GW of capacity over the next decade. India and Japan are expected to follow suit, increasing their solar capacity by 78GW and 35GW respectively.

Ørsted has announced the completion of cable laying for its Hornsea Two offshore wind farm. The company contracted VolkerInfra to lay 350km of cable across 39km of northeast UK. Reinstatement works on the cable will continue into mid-2021, as construction continues on the 1.4GW wind farm. When fully commissioned, Hornsea will become the world’s largest offshore wind farm.