Covid-19

A study by the International Energy Agency into the chilling effect of the Covid-19 pandemic on energy demand states renewables will be ‘the only energy source likely to experience demand growth for the rest of 2020’. The slower the economic recovery, the more the fossil fuel industry will suffer.

Liquidity of solar generators remains largely unaffected as they have been receiving payments from Discoms regularly. Azure and Adani Green Energy restricted groups, in particular, have comfortable liquidity position and will be able to meet their mandatory expenditure in the next six to 12 months.

The subsidies to renewable energy went from a high of Rs 15,313 crore in FY2017 to Rs 9,930 crore in FY2019. At the same time, government subsidies for oil and gas went up from Rs 40,762 crore in FY2017 to Rs 67,679 crore in FY2019. Unprecedented resource crunch post-Covid-19, however, presents a good opportunity for the government to rein in specific fossil fuel subsidies while creating more fiscal room for promoting renewables and other welfare schemes—according to a new report by the International Institute for Sustainable Development (IISD) and the Council on Energy, Environment and Water (CEEW).

Up to 150 GW of PV and wind projects could be postponed or canceled throughout the Asia-Pacific region by 2024 if the coronavirus-triggered recession continues beyond the current year, according to new research by Wood Mackenzie.

Given Covid-19 spread, India’s ministry has decided to conduct the third Global Renewable Energy Investors Meet and exposition (3rd RE-Invest)—scheduled from October 15 to 17—on a digital platform. The ministry has sought proposals for an interactive IT platform to facilitate the same.

A blanket extension equivalent to the period of lockdown and additional 30 days for normalisation after the end of the lockdown is allowed for completion of solar projects.

The new guidelines on Covid-19 lockdown permit certain industrial activities, including the construction of renewable energy projects from April 20, 2020, in areas not identified as containment zones of the country. The industry will, however, have to abide by the safety protocols.

Central Electronics limited—India’s first silicon PV manufacturer—is looking to utilize its expertise and technical competency to ramp up the production of ICU ventilators in the country’s fight against Covid-19 pandemic. The public sector unit has invited global bids from ventilator manufacturers to select partners for production.

The rooftop solar sector will see reduced installation activity even after lifting of the lockdown as consumers continue to deal with financial constraints. Small-size developers may also lack the financial strength to meet additional working requirements.

The developer reached out to the families in need by providing them ration as the situation worsened for the local community in the vicinity of a 75 MWp Open Access solar park owned by it in Uttar Pradesh.