Coronavirus company news summary – Global energy investments to tumble by 20% – 100 confirmed Covid-19 cases at Belarus nuclear plant

27 May 2020 (Last Updated May 27th, 2020 09:12)

27 May

The International Energy Agency (IEA) has said that global energy investment may plunge by approximately 20% or $400bn this year due to the coronavirus outbreak. The France-based agency in its annual report said that the decline in worldwide energy investment has been “staggering in both its scale and swiftness.”

Russian nuclear corporation Rosatom said that nearly 100 workers at the construction site of a nuclear power plant in Belarus have tested positive for the coronavirus. Rosatom CEO Alexei Likhachev said: “The newly infected are not only our employees but also representatives of the Belarusian customer.” Located in Grodno near the Lithuanian border, the site of the plant had earlier been locked down in a bid to curb the spread of the virus.

Power distributors in Brazil are to receive a bailout package of up to BRL15.5bn ($2.9bn) to overcome the liquidity crisis caused by the Covid-19 pandemic. Press representatives for Brazilian power regulator Aneel said that the companies will receive financing from Brazilian development bank BNDES.

Canadian electric utility BC Hydro has decided to resume construction work in phases at the Site C dam in the state of British Columbia after work was scaled back following the Covid-19 outbreak. The company said that it is working with project contractors and unions to begin increasing, with the first increase in work. The initial focus will be on resuming some of the main civil works on the earthfill dam and roller compacted concrete dam buttress.