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Coronavirus company news summary – India electricity sector expects bounce back – Bhutan’s hydropower generation rises by 31% in 2020

07 Jan 2021 (Last Updated January 7th, 2021 10:02)

7 January

The electricity sector in India will bounce back in the 2022 financial year, credit rating agency IRCA predicts. The industry is projected to expand by 6% to 7%, while use of thermal power plants is expected to reach 57% to 58%. The agency estimates this will increase from the 53% to 54% use rate in financial year 2021.

The Covid-19 pandemic had no negative effect on Bhutan’s hydropower sector, as energy generated through hydropower increased by 31% in 2020 according to Druk Green Power Corp. The cumulative power produced from the six currently operating hydropower stations stood at 11,363GWh last year, compared with 8,645GWh in 2019. The power generation increase is thanks to abundant rainfall and commencement of operations at the Mangdechhu project.

Looking back at 2020, Wood Mackenzie and the US Energy Storage Association have said installations of battery energy storage doubled, primarily due to new projects in California. At the same time, solar energy generation increased by 60% in Spain, according to country’s grid manager Red Electric, and a Chinese industry group has said installations doubled last year. In Australia, 29% of homes now have rooftop solar power, presenting grid balancing issues for energy distributors.