Coronavirus company news summary – EU arranges €1bn green investment – Indian coal companies unite for solar project

6 July 2020 (Last Updated July 6th, 2020 09:16)

6 July

Companies in Iran have delayed periodic maintenance of 84 thermal power plants by 33 days due the ongoing Covid-19 pandemic. Thermal Power Plants Holding Company head of technical affairs told Iranian news agency ILNA: “The overhaul that started in September 2019 should have been over by the end of May, but an array of problems impeded the project."

The European Commission has announced plans to invest €1bn in innovative clean technology projects to boost the European Union’s green recovery. The union will use the money to finance technologies for renewable energy, energy-intensive industries, energy storage, and carbon capture, use and storage.

Enel Green Power has commenced the construction of a 24MW wind farm near the towns of Borja and Fréscano in the province of Zaragoza in Spain. The San Francisco de Borja wind farm is expected to entail a total investment of €26m and will generate 92.5GWh per year.

Indian mining giants NLC India and Coal India have reached an agreement to form a 5GW solar and thermal power joint venture. The companies aim to focus on 3GW of solar photovoltaic generation first, requiring $1.6bn (Rs120bn), news agency PTI reported.