Coronavirus company news summary – India renewable energy capacity plummets – Infigen halts investments for 138MW Australia farm

4 May 2020 (Last Updated May 4th, 2020 09:25)

4 May

The Solar Module Manufacturers Association Bangladesh (SMMAB) has urged the government to sanction a BDT5bn ($59m) financial package to tackle the impact of the coronavirus pandemic. Its demands include giving BDT1bn in grants, BDT2bn as interest-free loans as well as BDT2bn to carry out the government’s project to deploy rooftop solar panel on public office buildings.

Following the outbreak of Covid-19 in India, just 222MW of solar capacity and 25MW of wind capacity has been installed in the month of March. Only 62MW of wind projects and 370MW of solar projects were installed in February. Installations are expected to remain slow for another two months, the Economic Times has reported.

Electricity consumption rates in Egypt have plummeted between 4% and 7% compared to the same period of last year, due to the lockdown caused by the coronavirus outbreak. Although the major chunk of electricity generation remains from natural gas and diesel, generation from hydroelectric power rose to 10%, and generation from solar and wind power increased to almost 5%.

Infigen Energy has decided to defer the timeline for the final investment decision for the 138MW Flyers Creek wind farm and other renewable energy projects in Australia citing various risks posed by the Covid-19 pandemic. “The decision to defer FID is due to a range of risks that arise from the Covid-19 crisis, including risks related to financing, construction, and commissioning, through this period of economic and social disruption, along with a more subdued wholesale electricity price outlook,” the company said in a press statement.