Coronavirus company news summary – Serbia resurrects coal plans – TEPCO to make ~$18bn renewable investment by 2035

9 June 2020 (Last Updated June 9th, 2020 09:31)

9 June

Japan’s Tepco Renewable Power is planning to invest over ¥2tn ($18bn) on offshore wind and hydroelectric power projects over the next ten years. The company’s president Seiichi Fubasami told Reuters the company aims to use the investments to boost its profit to ¥100bn in 2030 from ¥40 now. He added: “We are sticking to the goal despite the Covid-19 pandemic."

The Serbian government has published a draft spatial plan and strategic environmental impact assessment report for the Kolubara B coal power plant. The previously abandoned plans will generate "up to 400MW" when constructed. PowerChina is contracted to install a 350MW turbine before 2024. The consultation process lasts until 3 July.

The National Solar Energy Federation of India (NSEFI) has urged the Indian government to extend the waiver of Interstate Transmission System (ISTS) charges in light of the ongoing Covid-19 pandemic. The waiver currently applies for all solar and wind power projects commissioned before 31 December 2022.

The Ocean Renewable Energy Action Coalition (OREAC) has said it envisages 1400GW of offshore wind capacity globally by 2050, driving a green economic recovery from the Covid-19 pandemic. It also said if the 1,400GW vision is achieved, offshore wind could provide around 24 million years of employment by 2050.