Coronavirus company news summary – Vestas received 443MW turbine order – Adani Power negotiates purchase of 414MW plant

20 August 2020 (Last Updated August 20th, 2020 09:34)

20 August

The Government of India has decided to relax the working capital limit for power distribution companies hit by the ongoing Covid-19 pandemic. The Power Finance Corporation and Rural Electrification Corporation can extend loans to power distributors above limits of the working capital cap of 25% of last year’s revenues.

Danish wind turbine manufacturer Vestas has received a 443MW order from SSE Renewables for the Viking wind project on the Shetland Islands in the North Sea, UK. The deal involves supply, installation, and commissioning of the wind turbines, as well as a 30-year service agreement.

174 Power Global has finished the construction of the 1,200-acre Oberon Solar Power Facility in West Texas. The 180MW clean energy facility is capable of powering an average of 30,000 homes annually.

India-based Adani Power is holding negotiations to purchase OPG Power Ventures’ 414MW coal-fired plant near Chennai, Livemint.com reported. A potential deal could be valued up to $160m (Rs12bn), the publication quoted two undisclosed sources as saying.