Coronavirus company news summary – Masdar buys 50% stake in 1.6 GW projects – Hitachi ABB Power Grids India sees 82% fall in profit

14 August 2020 (Last Updated August 14th, 2020 09:27)

Masdar has agreed to acquire a 50% stake in EDF Renewables North America's 1.6GW clean-energy portfolio in the US. Under the agreement, Masdar will purchase stakes in three wind farms in Nebraska and Texas, totaling 815MW. It will also acquire five solar projects in California totaling 689MW of photovoltaic solar and 75MW of storage.

Hitachi ABB Power Grids India has said its second-quarter profit margins plummeted by 82% to at $1.45m (Rs109m) due to the disruption caused by Covid-19 lockdowns. For the April-June quarter, the company’s overall operational revenue stood at $85m (Rs6.34bn), down from $150m (Rs10.86bn) in the year-ago quarter.

Vestas has secured its second and final order from ABO Wind for the 34MW Dreieck Spreeau wind project in Germany. The order consists of two V150-4.2MW turbines, and it follows an unannounced 25MW order for the same wind park earlier this year.

Rushydro and solar manufacturer Hevel have concluded the construction of Russia’s first floating solar power plant. The 54MW facility is built with 140 heterojunction solar panels mounted on pontoon-type floats.