Coronavirus company news summary – Portugal selects 37 green hydrogen projects for funding – Fusion generator assembly begins

29 July 2020 (Last Updated July 29th, 2020 09:33)

29 July

The Government of Portugal has selected 37 prospective green hydrogen projects as part of an EU initiative to build hydrogen facilities as part of the economic recovery from Covid-19. One of the projects will focus on creating a hydrogen export value chain from the industrial cluster in Sines, Portugal to Northern Europe. EDP-Energias de Portugal, Galp and RENAn announced they had signed an international Memoradum of Understanding for the project. The selected green hydrogen projects represent a total investment of approximately $10.5bn (€9bn).

Engineers at the ITER project have started assembling the components of the world’s largest and most advanced fusion device. Currently under construction in Cadarache, southern France, the £18.2bn facility project will deliver energy in a process similar that of the sun. It is slated to become fully operational by 2035.

Data released by the Indian government showed that 65 power distribution companies owed 197 power generators $15.28bn (Rs1.138tn) in overdue payments at the end of May this year because of the country's Covid-19 lockdown. Excluding payments under dispute, this figure falls to $1.31bn (Rs97.25bn). At the end of March, the debts including disputed feesat $12.16bn (Rs905.77bn). Outstanding dues to renewable generators totalled approximately $97.76m (Rs7.28bn).