Coronavirus company news summary – Partnership to fund clean energy in China – Force majeure in India

24 June 2020 (Last Updated June 24th, 2020 09:25)

24 June

Georgia Power has modified some planned activities at Plant Vogtle Units 3 & 4 due to the Covid-19 pandemic. However, the company added that “resequencing” will not change the two units’ in-service date.

China Life Insurance has signed an agreement with State Power Investment Corporation (SPIC) to jointly set up a $1.1bn (CNY8bn) clean energy fund. The two partners will jointly fund large-scale clean energy projects in China. China Life is expected to contribute up to CNY7.2bn, Asian Insurance Review reported.

The Maharashtra Electricity Regulatory Commission (MERC) in India has allowed ACME Heergarh Powertech to invoke a force majeure clause for a solar project delayed because of the coronavirus pandemic. However, the force majeure could not be used to terminate its power purchase agreement PPA with Maharashtra State Electricity Distribution Company.

ScottishPower has revealed some of its key steps to help the UK’s green energy sector to recover from the impact of Covid-19, while delivering immediate returns for the economy by creating jobs. The key steps are divided into green generation, net zero networks, electric vehicles (EVs) and low carbon buildings.