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June 16, 2020

Coronavirus company news summary – EU to surpass 2030 renewables target – Record high gas output in Iran

By Matthew Farmer

16 June

Tata Power Renewable Energy has secured a letter of award from Gujarat Urja Vikas Nigam (GUVNL) to build a 120MW solar project in the Indian state of Gujarat. The power generated by the project will supply GUVNL under a 25-year power purchase agreement. Once operational, the facility is expected to annually produce about 300 million units of power, helping to reduce almost 300 million kg of CO2 every year.

The European Union is set to pass its 2030 target of securing 33% of its energy from renewable sources by one percentage point. However, EU energy chief Kadri Simson has said clean energy projects will require public support to offset a fall in investment following the Covid-19 pandemic. The European Commission plans to inject tens of billions of euros into renewable projects from its proposed €750bn EU coronavirus recovery fund so the pandemic does not hinder its goals.

The output from small-scale gas power facilities in Iran has touched a record high of 800MW. The Tehran Times reported power generation from these facilities jumped by 21% compared with the figure registered in 2019. The country’s power consumption has seen a sharp increase in the last few weeks due to hot weather. The total power production touched around 83,350MW at the end of the past Iranian calendar year 1398 (19 March), up from the previous year’s 80,000MW.  Currently, the share contributed by the combined cycle power plants in the power production is the largest, followed by gas power facilities.

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