Coronavirus company news summary – Integrated solar panel plant opens in Turkey – Helios Infrastructure completes solar purchase

21 August 2020 (Last Updated August 21st, 2020 09:24)

21 August

The Egyptian Nuclear Power Plants Authority has said it expects to approve the construction of the Dabaa nuclear power plant site in Q2 of 2021, reported Arab News. Once constructed, it will be the first nuclear power plant in Egypt. It will be constructed in the city of Dabaa, around 130km from Cairo. The facility will cost more than $25bn, and will be constructed by Rosatom State Atomic Energy Corp.

Turkish authorities have opened an integrated solar panel manufacturing facility in Ankara's Başkent Organized Industrial Zone. The facility's managers claim it is the country's first integrated solar panel manufacturing facility across Europe and the Middle East. The solar ingot-wafer-module-cell production factory, built with an investment of $400m, spreads across a 100,000m² closed area.

American credit rating agency Fitch Ratings expects India's power demand to fall by 4% during the financial year ending March 2021. This comes as a result of gradual pick-up in economic activity since Covid-19-related lockdowns were eased in June this year. The drop in demand may lead to lower load factors, primarily for coal-based power facilities. The agency also expects supply chain and labour disruption due to the pandemic, leading to slower green energy capacity additions this year.

Helios Infrastructure, a joint venture between Nationwide and Sol Systems, has completed its solar project purchase from Cypress Creek Renewables. The portfolio is worth more than $200m, and features 20 projects across North Carolina. Of these, 97MW are operational and 51MW are under construction.

Dipping green energy tariffs in India have put the fate of an already awarded 16.8GW renewable energy projects in limbo, reported LiveMint, citing two people familiar of the development. State electricity distribution firms are reportedly reluctant to sign power supply agreements for these power projects, requiring a potential investment of around $8bn (Rs600bn).