Coronavirus company news summary – Renewables on track in India and Colombia – Tanzanian hydro project falls behind

23 September 2020 (Last Updated September 23rd, 2020 09:38)

23 September

The Institute for Energy Economics and Financial Analysis (IEEFA) said that despite disruptions caused by the Covid-19 pandemic, investment capital for renewable projects in India remains ample. IEEFA added that government policies and a collapse in electricity demand have disrupted the country’s renewable energy capacity tendering and commissioning process. IEEFA research analyst Kashish Shah said despite these setbacks renewables have proved resilient, with investment capital available for new projects with favourable risk-return profiles.

Colombian renewables association SER has said wind and solar power projects in the country remain on schedule despite coronavirus. More than 2GW of capacity are expected to finish construction by 2022. SER executive director Germán Corredor told BNamericas that an initial pause, coinciding with the start of lockdowns in March, has now given way to activity.

On the other hand, the Covid-19 pandemic has delayed the Regional Rusumo Fall Hydroelectric Project in Tanzania. Rusumo Hydro plant manager Eng Patrick Lwesya said that the original deadline for completion was February this year, but it has now been rescheduled to December next year. So far, 74% of work on the plant is completed.

Solar-powered home energy products provider Greenlight Planet has secured $90m in funding. It will use this to expand its pay-as-you-go solar consumer financing business, and consolidate its debt portfolio. Greenlight operates the PAYG solar distribution and service network under its Sun King brand.