Coronavirus company news summary - NTPC establishes renewable energy subsidiary - Lekela begins operations at 110MW wind farm

9 October

Free Report

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.

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State-owned energy companies in Poland plan to start separating coal-based generation assets from the rest of their business in 2021, as burning coal has become costly and deters banks from providing financing. Poland generates over 70% of its electricity from coal, and is the only country in the European Union which has refused to pledge climate neutrality by 2050.

India’s state-run power company NTPC has established a wholly-owned renewable energy subsidiary, known as NTPC Renewable Energy. The venture comes after the company receiving approval from the Department of Investment and Public Asset Management, and Niti Aayog in August.

Lekela has announced that the 110MW Perdekraal East wind farm in South Africa has started commercial operations. The project features 48 Siemens Gamesa 2.3-108 turbines and will provide approximately 360GWh of electricity per year.

Electricity demand in India rose by 13.65% during the first week of October. Demand reached 25.95TWh as industrial and commercial activities increased after the easing of lockdown restrictions, according to the power ministry. This stood at 22.83TWh in the same period last year. In the full month of October last year, power consumption stood at 97.84TWh. Extrapolating the current level of consumption is likely to see year-on-year growth this month, reported PTI.