Coronavirus company news summary – US 2020 power consumption falls by 4.3% – Gulf Energy Development buys into German wind farm

8 July 2020 (Last Updated July 8th, 2020 09:20)

8 July

The US Energy Information Administration has predicted power consumption in the country will fall by 4.3% this year due to the impact Covid-19 had on business operations. The agency estimates total power demand will fall to 3,730 billion kilowatt hours (kWh) in 2020 from 3,896 billion kWh last year. However, it is expected to rise to 3,785 billion kWh in 2021.

India-based Tata Power has said the Covid-19 pandemic may not have any major impact on its business, except on its coal mining entities. In its annual report, the company stated it would not pursue any greenfield or brownfield expansion in thermal power. It intends to weigh up options in the distribution business in Indian and overseas markets and purchase transmission assets.

Gulf Energy Development has bought a 50% stake in the Borkum Riffgrund 2 offshore wind farm in Germany. Thailand’s second-largest power producer paid $631m (€558m) for the stake. The project has an installed capacity of 464.8 MW.

Duke Energy Renewables has said its largest project in Nolan County, Texas has achieved commercial operation. The 200MW AC Holstein Solar project contains more than 709,000 solar panels across approximately 1,300 acres in Wingate, Texas.