Coronavirus company news summary – EDP reports 22% less net income in Q1+2 2020 – GE and CTCI receive five gas-fired generating unit orders

4 September 2020 (Last Updated September 4th, 2020 10:17)

4 September

RWE has commenced the construction of its first ground-mounted solar project in the Limburg province of the Netherlands. Spread over 12 hectares, the Kerkrade solar farm will have a capacity of over 14MW. The deployment of nearly 36,000 solar modules will begin next year.

Portuguese power company EDP has registered a 22% decline in net income in the first half of 2020. This comes as a result of lower power consumption because of lockdowns imposed to prevent the spread of Covid-19 in Iberia and Brazil. The company posted a net income of $373.46 (€315m) for the period. The volume of electricity sold in Iberia fell by 7%, while power consumption by customers in Brazil decreased by 9%.

General Electric and CTCI of Taiwan have received an EPC contract for five combined cycle gas-fired power generating units at two power plants in Taiwan. The contract encompasses works for three new generating units at the Hsinta Power Plant, which has 3.9GW installed capacity. It also covers work on two new generating units at the Taichung Power Plant, with 2.6GW installed capacity. Both plants are owned by state-owned Taiwan Power.

In its latest preliminary report, grid operator Red Electrica de Espana said that Spain produced 37.8% of total electricity from renewable sources in August. Wind power generation surged by 24.3% year-on-year to 3.59TWh, making it the top renewable electricity producer.