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    TotalEnergies to Acquire SunPowers Commercial & Industrial Solar Business

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    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

    Ferroglobe Hydro power

    Ferroglobe completes sale of Spanish hydro facilities to TPG Sixth Street Partners

    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

    Summit Energy Services Announces Merger with Schneider Energy Consulting

    SeaMade secures €250m European loan for Belgian offshore wind farms

    SeaMade secures €250m European loan for Belgian offshore wind farms

    Xcel Energy agrees to buy Mankato Energy Center for $650m

    UK renewable energy overtakes fossil fuels, despite Brexit fears

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    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    SPI Energy Develops Utility Scale Solar Project in Maryland

    Lightsource BP pioneers UK's first night-time solar service

    Altus Power and Heliene Establish Strategic Partnership to Support U.S. Solar Module Manufacturing

    EDP signs a Build & Transfer Agreement for a 200 MWac solar project in the U.S.

    I&M is Powering the Next Tomorrow with Plans to Add More than 2,000 MW of Solar

    WindEurope Annual Event 2022 in Bilbao - Registrations Open, Conference Programme Available

    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

    RWE chooses Chantiers de l'Atlantique as key supplier for its F.E.W Baltic II wind farm - design, construction and installation of the electrical offshore substation

    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

    EGAT deploys Siemens software solutions for the worlds largest Hydro-Floating Solar Hybrid Project

    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    Abengoa completes construction of three solar fields at the world’s largest concentrated solar power complex in Dubai

    GE's digital power transformers selected for multiple projects across the globe

    GE’s digital power transformers selected for multiple projects across the globe

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    bp to invest up to £18 billion in UK energy system by 2030

    Giant offshore wind energy projects to be built in Irelands seas

    Kier to deliver onshore converter station for offshore wind project in the north east

    Statkraft seeks planning nod for 49.9-MW Scottish wind farm

    VSB Group Expands in France with Acquisition of 143.5 MW Wind Power Portfolio

    Norway to invest in renewable projects in developing countries

    Italian Solar Farms, Matrix in Strategic Partnership with Energia Aljaval

    China installed 48.2 GW of new solar capacity in 2020

    Solek Group signs deal to build solar power plants in Chile

    Trina Solar betting on largest wafer size and third cut cells for 500W-plus modules

    TotalEnergies to Acquire SunPowers Commercial & Industrial Solar Business

    Vattenfall Wind

    UK Government grants consent for Vattenfall’s Norfolk Vanguard Offshore Wind Farm

    New DNV GL class rules for floating offshore wind energy expands industry horizon

    Norway to launch 1.5 gigawatt offshore wind tender

    Atlas and Hitachi to develop energy storage systems for renewable projects

    Velto Renewables supports the 360 MW offshore wind farm London Array

  • Market Moves
    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

    Ferroglobe Hydro power

    Ferroglobe completes sale of Spanish hydro facilities to TPG Sixth Street Partners

    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

    Summit Energy Services Announces Merger with Schneider Energy Consulting

    SeaMade secures €250m European loan for Belgian offshore wind farms

    SeaMade secures €250m European loan for Belgian offshore wind farms

    Xcel Energy agrees to buy Mankato Energy Center for $650m

    UK renewable energy overtakes fossil fuels, despite Brexit fears

  • Press Statements
    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    SPI Energy Develops Utility Scale Solar Project in Maryland

    Lightsource BP pioneers UK's first night-time solar service

    Altus Power and Heliene Establish Strategic Partnership to Support U.S. Solar Module Manufacturing

    EDP signs a Build & Transfer Agreement for a 200 MWac solar project in the U.S.

    I&M is Powering the Next Tomorrow with Plans to Add More than 2,000 MW of Solar

    WindEurope Annual Event 2022 in Bilbao - Registrations Open, Conference Programme Available

    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

    RWE chooses Chantiers de l'Atlantique as key supplier for its F.E.W Baltic II wind farm - design, construction and installation of the electrical offshore substation

    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

    EGAT deploys Siemens software solutions for the worlds largest Hydro-Floating Solar Hybrid Project

    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    Abengoa completes construction of three solar fields at the world’s largest concentrated solar power complex in Dubai

    GE's digital power transformers selected for multiple projects across the globe

    GE’s digital power transformers selected for multiple projects across the globe

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COVID-19 crisis reinforces the importance of the sustainable energy transition

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COVID-19 crisis reinforces the importance of the sustainable energy transition

Around the world, the lockdown measures to contain COVID-19 have led to economic contraction and a significant drop in energy consumption including electricity, gas and oil. CEOs, experts and policymakers are still taking stock of the impacts of COVID-19 on the energy landscape and what it means for the ongoing transition to sustainable energy.

Reduced energy consumption prompts multiple responses. Lower electricity demand, if sustained, may wedge fossil fuel generators into a difficult economic position of constrained output and dwindling revenues. This could see early closure of some privately-owned fossil fuel power plants, particularly older units. Government power utilities may demand subsidies for survival. By contrast, renewable energy operators face relatively lower economic impacts compared to their fossil fuel counterparts. In many national grids, renewable outputs are dispatched first, meaning they can continue selling energy unimpeded. As a result, many grids have seen renewable energy penetration reach levels not expected for a decade – providing both a system stress test and a glimpse of a high renewables future.

On the heels of COVID-19 another rare event has arisen – an oil price war. The convergence of these two factors has pushed oil prices over a cliff, even into negative pricing. Plummeting oil prices have raised the spectre of cheap oil impeding the progress of renewable energy. The International Renewable Energy Agency believes it is unlikely that renewables, largely focused on electricity generation, will be impacted by the oil price crash. In fact oil plays a negligible role in power generation – particularly evident in the Asia-Pacific where oil’s share in power generation registers at just 1.8 per cent.

Sustained low oil prices could have an impact on electric vehicle uptake or discourage the use of biofuels, potentially meaning renewables play a smaller role in transport. Governments could counter this with electric vehicle incentives as part of economic stimulus packages. The startling growth in urban delivery vehicles during the lockdown illustrates a huge sustainable energy opportunity to electrify all these vehicles.

As renewable energy supply chains span the globe, there have been concerns of renewable energy project slowdowns from component shortages. Major suppliers of solar photovoltaic and energy storage equipment in China, the Republic of Korea and the United States have been hit hard by COVID-19. Thus 2020 may see a significant dip in renewable energy additions as a result of these disruptions in supply and lockdown of key workers.

An important question is how these seismic shifts in the energy sector from COVID-19 will affect the region’s most vulnerable people. The Asia-Pacific has 200 million people without electricity and 1.2 billion people without clean cooking fuel. One medium-term impact of COVID-19 could be decreased investment in energy access, as national budgets refocus on other priorities. This would severely impact the capacity of rural health centres to support frontline health workers and provide essential services to COVID-19 patients. The anticipated coronavirus vaccine will need cold storage and refrigerated transport over large areas for large-scale immunisation in developing countries. The role of decentralised technologies such as solar in this effort will therefore be indispensable. On the clean cooking front, slow progress in mainstreaming clean cooking solutions could see a dangerous combination of indoor air pollution and COVID-19. Scientists are investigating links between air pollution and higher levels of coronavirus mortality, with preliminary results showing probable correlation between the two.

Economic challenges resulting from the pandemic are likely to force countries in the Asia-Pacific region to focus on short-term fixes to revive GDP growth, potentially undermining long-term sustainable development. In the energy sector, this can result in the decline of investment in clean energy development – slowing progress in renewable energy and energy efficiency, and impeding the realisation of the Paris Agreement. No doubt government stimulus packages will have business, jobs and economic growth as their principal guideposts. But this should not take the spotlight away from sustainable energy development or endanger the progress of the 2030 Agenda for Sustainable Development.

For policymakers, economic recovery and sustainable energy do not have to be mutually exclusive. There are many good examples of how stimulus packages supporting sustainable energy development post-crisis. Australia’s Northern Territory has legislated a COVID-19 solar stimulus package. Following the global financial crisis, 8 per cent of the Republic of Korea’s $38 billion stimulus package and about 40 per cent of China’s $586 billion package were allocated to sustainable energy investment. Therefore, as many have argued, a stimulus based on clean energy projects may offer the best of both worlds, creating economic revitalisation, new skilled jobs and putting in place the clean infrastructure that is needed to see out the rest of the 21st Century.

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bp to invest up to £18 billion in UK energy system by 2030

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Next Post
Every Power Station Performed Optimally amid Covid-19 Crisis: NTPC

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LatestNews

News

bp to invest up to £18 billion in UK energy system by 2030

May 14, 2022
Giant offshore wind energy projects to be built in Irelands seas
News

Kier to deliver onshore converter station for offshore wind project in the north east

February 19, 2022
Statkraft seeks planning nod for 49.9-MW Scottish wind farm
News

VSB Group Expands in France with Acquisition of 143.5 MW Wind Power Portfolio

February 19, 2022
Norway to invest in renewable projects in developing countries
News

Italian Solar Farms, Matrix in Strategic Partnership with Energia Aljaval

February 19, 2022
China installed 48.2 GW of new solar capacity in 2020
News

Solek Group signs deal to build solar power plants in Chile

February 19, 2022
Trina Solar betting on largest wafer size and third cut cells for 500W-plus modules
News

TotalEnergies to Acquire SunPowers Commercial & Industrial Solar Business

February 19, 2022
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