Coronavirus company news summary – German solar installations rise – European Energy acquires green methanol producer

2 December 2020 (Last Updated December 2nd, 2020 10:46)

2 December

Solar installations in Germany rose by 421MW in October, up 12% from 376MW in the corresponding period in 2019. Despite the ongoing pandemic, the country added roughly 3.5GW of solar capacity between January and September. This represents a 17% growth over the same period last year. Germany’s cumulative solar installations reached 53.18GW in October.

Danish green energy developer European Energy has acquired power-to-X company Reintegrate for an undisclosed amount. The two companies will work to create a green methanol production line in Denmark. European Energy has also signed four contracts with Siemens Gamesa, for the latter to supply turbines to wind farms in Sweden and Poland.

US president elect Joe Biden may face opposition when trying to abolish tax breaks for US oil and gas producers, Reuters has reported. Biden’s presidential campaign promised to use funds for tax breaks to instead fuel a green energy transition. However, politicians from both large US parties could block legislation from passing through the US Senate.