Coronavirus company news summary – Indian electricity consumption falls 1.6% – Global Power Generation awarded 107MW wind farm contract

9 September 2020 (Last Updated September 9th, 2020 09:54)

9 September

Electricity consumption in India dropped by 1.6% year-on-year to 109.7TWh in August. This comes as a result of weak industrial and commercial activities in the aftermath of the Covid-19-induced lockdown. Power consumption in the month was also 2.2% lower than July, as monsoons reduced the cooling demand from residential segment.

The Australian Capital Territory government has awarded a wind farm construction contract to Global Power Generation (GPG). The company is a joint venture of Naturgy Energy Group, with a 75% stake, and the Kuwait Investment Authority with a 25% stake. GPG will construct the 107MW Berrybank Stage 2 Wind Farm in the state of Victoria, approximately 150km from Melbourne. Furthermore, GPG has committed to install a 20MWh Battery Energy Storage System located within the ACT. The wind farm will entail a total investment of $155m (AUD215m), and will start operations in the second half of 2022.

The Cabinet Committee on Economic Affairs has approved plans to monetise the state-run Power Grid Corp. of India's transmission projects won through a bidding process.

Without major breakthroughs in green energy technology, the US power industry will struggle to become carbon neutral by 2035, as mandated by presidential hopeful Joe Biden, according to a Reuters analysis of a survey of top power utilities.