Coronavirus company news summary – Japanese utilities expect slow demand recovery – Orsted and EDF receive hydrogen project funding

4 August 2020 (Last Updated August 4th, 2020 09:20)

4 August

Utility firms in Japan expect a slow recovery in electricity demand in the coming months due to a spike in coronavirus cases. The companies, which registered a 5% dip in demand during the second quarter of 2020, have decided not to offer annual profit guidelines, according to Reuters.

Vestas has received a new contract from Vena Energy to service 54MW of Gamesa turbines at the Pililla Wind Project in the Philippines. The project lies east of the capital city Manila and consists of 27 Gamesa G90-2.0 MW turbines.

The European Bank for Reconstruction and Development (EBRD) has offered a loan to the Public Power Corporation of Greece. To tackle the challenges posed by the Covid-19 pandemic, the bank has agreed to offer a senior unsecured loan of up to €160m. The utility company will use the funds to support its working capital needs, as the outbreak of the crisis has disturbed bill payments by customers.

A consortium comprising of Orsted and EDF has received funding confirmation for the green hydrogen project Westküste 100 from Germany's Federal Ministry of Economic Affairs and Energy. The project, which aims to develop a completely decarbonised process of green hydrogen production through electrolysis of wind power generated through offshore farms, has received federal funding of $35m (€30m). It has a total budget of $105m (€89m).