Coronavirus company news summary - India’s solar sector investments surge
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Coronavirus company news summary – India’s solar sector investments surge

26 Nov 2020

26 November

The investment in India’s solar industry increased by 170% in September quarter reaching around $270m, compared with $100m in the second quarter, even as the investments dropped 69% from $1.56bn in Q3 2019. The growth in solar investments is attributed to the lifting of Covid-19 related lockdown restrictions, which helped the industry to bounce back and triggered a rise in solar installations.

The overall installed solar PV capacity in France reached 10.2GW in September, with roughly 283MW of capacity connected to the grid in the third quarter. The power generated from solar energy accounted for 4.46TWh in the third quarter, marginally rising from 4.43TWh produced in the previous quarter. The French government apportioned $35.5bn for the green energy sector as part of its France Relaunching plan, implemented to revive the economy battered by the Covid-19 pandemic.

The Ugandan government has set aside $107m to uplift solar and cookstove companies from the economic slump induced by Covid-19 pandemic. The money was mobilised as part of Covid-19 economic relief fund to support these firms and maintain progress made in the off-grid solar industry. The measure was taken as most of the businesses in the sector are going through a financial slump, which has been exacerbated by the pandemic.