Coronavirus company news summary – Vestas to layoff 400 – Green energy could drive economic recovery: IRENA
Join Our Newsletter - Get important industry news and analysis sent to your inbox – sign up to our e-Newsletter here
X

Coronavirus company news summary – Vestas to layoff 400 – Green energy could drive economic recovery: IRENA

21 Apr 2020

21 April

Danish wind turbine manufacturer Vestas will layoff approximately 400 employees in the wake of uncertainty caused by the coronavirus outbreak. The move will primarily affect the company’s employees in Denmark as it narrows its focus to near-term deliveries. Vestas has also decided to defer certain R&D projects with immediate effect.

Afghanistan’s state-owned utility firm Da Afghanistan Breshna Sherkat has cautioned that the country is staring at the risk of a blackout as the coronavirus outbreak has dented its financial ability to pay dues to nations from which it imports electricity. Uzbekistan, which is one of the key exporters of electricity to Afghanistan, has notified that it would stop the electricity supply if its payments are not made on time.

The International Renewable Energy Agency (IRENA) has said that green energy could drive an economic recovery from Covid-19 by delivering huge gains to global GDP. The agency in its latest report said that investment in renewable energy would deliver global GDP gains of almost $100tn between now and 2050 by yielding a return of between $3 and $8 on every dollar invested.

South African electricity public utility Eskom has said that it may not implement load shedding until July as the Covid-19 lockdown resulted in the accumulation of significant power generation. Eskom spokesperson Sikonathi Mantshantsha said: “We have doubled planned maintenance from the pre-lockdown levels of 4200MW to more than 9000MW currently, which – at some stage during the past three weeks – rose as high as 9800MW.”

Free Whitepaper

By clicking the “Submit” button above, you accept and acknowledge that your data will be used by Vega.

We will also collect and use the information you provide for carefully considered and specific purposes, where we believe we have a legitimate interest in doing so, for example to send you communications about similar products and services we offer. We will always give you an option to opt out of any future communications from us. You can find out more about our legitimate interest activity in our privacy policy here. ‘We’ includes Verdict Media Limited and other GlobalData brands as detailed here.