Coronavirus company news summary – Plans for new wind industry port in US – Siemens to invest in grid infrastructure technology

17 June 2020 (Last Updated June 17th, 2020 09:20)

17 June

Siemens Smart Infrastructure is planning to invest in new grid infrastructure technology. It has made the decision after the power demand in many countries dipped because of lockdowns imposed to curb the spread of the Covid-19 pandemic. CEO Cedrik Neike said: "The pandemic has indeed impacted our businesses, but we have not reduced our spending in R&D, even though it is a hit on our bottomline. On the contrary, we believe that we need to now invest in future technology. As Covid-19 is going to away at some stage, we need to have the right technology ready."

The US state of New Jersey has unveiled plans to build a new port in Salem County to support the development of offshore wind industry. Located next to the Hope Creek nuclear plant, the project will cover an area of 200 acres and is expected to attract an investment of up to $400m.

Elsewhere in the US, Georgia Power has launched a special payment plan for customers with past-due account balances accumulated during the coronavirus pandemic. The company said customers who sign up for the new plan can pay past-due balances with no late fees over a six-month period between October and March 2021. It also extended its suspension of disconnections until 15 July.

The Indian government is planning to extend the waiver of Inter-State Transmission System (ISTS) charges for renewable energy projects beyond 2022. The ISTS charges waiver to the wind and solar energy projects were extended by nine months until December 2022, in November last year.