Coronavirus company news summary – UK pledges wind generation investment – US domestic solar installation set to break records

6 October 2020 (Last Updated October 6th, 2020 11:29)

6 October

UK Prime Minister Boris Johnson has pledged £160m to upgrade ports and factories for the construction of offshore turbines. The pledge follows an election pledge, and forms part of the British government’s Covid-19 recovery stimulus. In a conference speech, Johnson has said wind will produce enough electricity to power the equivalent of all domestic consumption by 2030. Commentators have suggested the speech aims to distract from continuous negative headlines concerning the government’s handling of the pandemic. The investment plan is aimed at creating 2,000 jobs in construction.

A report has suggests America’s residential solar industry is set for a record-breaking year after a dip during the outbreak of Covid-19. BloombergNEF has forecast 3GW of residential-solar installations, with another 3.6GW expected to be installed next year. BloombergNEF analyst Tara Narayanan said the push for renewables ‘ has allowed the sector to shake off the worst of the plague and some natural disasters’.

The Prime Minsiters of India and Israel have agreed to hold a digital conference on innovation in solar energy, and to continue and advance bilateral cooperation in fight against the Covid-19 pandemic. As part of the cooperation, the countries will jointly aim to develop inexpensive solar solutions.