Coronavirus company news summary – Renewable power capacity dips 13% : IEA – CALSSA releases California economic stimulus

20 May 2020 (Last Updated May 20th, 2020 09:24)

20 May

The International Energy Agency (IEA) has said that the world is set to add 167GW of renewable power capacity in 2020, which represents a dip of 13% compared last year because of the impact of the Covid-19 pandemic. The IEA’s Renewable Market Update report added that in spite of the slowdown in new additions, overall global renewable power capacity will still grow by 6% in 2020, exceeding the total power capacity of North America and Europe combined.

An eight-point economic stimulus plan to support and expand solar and storage jobs in California amidst the ongoing Covid-19 pandemic has been released by the California Solar and Storage Association (CALSSA). The latest survey report suggests that 92% of solar and storage businesses pointed to negative impacts on their operations as a result of the pandemic. Approximately 21% of employees were either laid off or sent on furlough, indicating a loss of 15,600 jobs in California in the first six weeks of the outbreak.

Russian state nuclear corporation Rosatom has said that 96% of its 246,000 associates would return to work as usual as on Monday as the government eased lockdown norms imposed post the coronavirus outbreak. Alexei Likhachev, head of Rosatom, said this would not be applicable to workers who are above 65 years of age and suffer from chronic medical conditions, pregnant women, or mothers with multiple children.

The decision by the Mexican Government to freeze the opening of new renewable power plants has been provisionally suspended by a local court. In its decision, which was reported by Reuters, the court said that the order by market regulator CENACE risked distorting free competition to the detriment of the consumer. CENACE in its order argued that the intermittency of wind and solar power endangered the reliability of the national power supply during the Covid-19 pandemic.