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GlobalData

Power

Utilities might continue dealing with economic and operational challenges post the COVID-19 pandemic, says GlobalData

Due to COVID-19, electric utilities are exposed to various risks such as financial market volatility and erosion of market capitalization, credit and liquidity concerns, increase in government intervention, increasing unemployment and decline in consumer spending, production curtailment because of demand constraints, and other restructuring activities. These factors are expected to negatively impact a utility’s financial […]
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Despite COVID-19 pandemic, Ireland’s journey towards meeting 2030 targets will be supported by RESS’ allocation of clean energy, says GlobalData

Following the completion of the pre-qualification procurement process for its first renewable auction at the end of April, the Renewable Electricity Support Scheme (RESS) is likely to allocate 1TWh of clean energy from solar, onshore wind, offshore wind, and biomass. Successful bidders will receive a feed-in premium (FIP) on top of wholesale electricity prices for […]
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Giant Abu Dhabi utility scheme provides hope to Gulf power and water sector, says GlobalData

Faced with contrasting demand trends for electricity and water following the COVID-19 outbreak – changing customer behavior and remote working are driving water demand higher, while temporary lockdowns curtail electricity demand – the near-term prospects for investment in new capacity are uncertain, says GlobalData, a leading data and analytics company.   Jennifer Aguinaldo, Energy & Technology […]
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COVID-19 outbreak slows down residential energy efficiency industry in the US

Around 20 states stopped residential energy efficiency retrofitting at the end of April to low-income households. In these states, all residential energy efficiency work was suspended by utilities, states, service providers and small businesses as it was deemed non-essential unless an emergency. Somik Das, Power Analyst at GlobalData, comments: “Energy efficiency activities are treated as […]
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Demand for electricity and natural gas fuel fall in Mexico amid COVID-19 pandemic

COVID-19 hurt electricity demand in most countries around the world and Mexico is no exception. The country’s lockdowns has curbed electricity demand for commercial and industrial segments resulting in a fall in demand for natural gas, says GlobalData, a leading data and analytics company.  Somik Das, Senior Power Analyst at GlobalData, comments: “Gas-based thermal power accounted […]
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Vestas transformation plan will help it remain relevant with its competitors

Vestas transformation plan involving the layoff of around 400 employees across different functions that do not directly support its 2020 deliveries, will help the company remain relevant with its competitors and quickly adjust to disruptions caused by the COVID-19 pandemic, says GlobalData, a leading data and analytics company. Somik Das, Power Analyst at GlobalData, comments: […]
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Bangladesh solar PV module manufacturers need stimulus to maintain operations after lockdown extension due to COVID-19 pandemic, says GlobalData

Fllowing the news that the Solar Module Manufacturers Association Bangladesh (SMMAB) requested for government support after operations took a hit due to the 40-day COVID-19 industrial lockdown; Somik Das, Senior Power Analyst at GlobalData, a leading data and analytics company, comments: “Module makers have demanded BDT5bn ($58.9m) to be spent on grants, long-term interest-free loans, […]
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M&A activity in renewable sector to decline amid COVID-19

The number of merger and acquisition (M&A) deals completed within the renewable industry in Q1 2020 dropped by nearly 25% from Q4 2019. These M&As are being affected by factors such as risk aversion from prospective buyers, difficulty in conducting due diligence, deal financing challenges, and additional time required to obtain the necessary approvals. However, […]
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Orsted’s £165,000 is generous but further contributions welcome

Following the announcement that Danish renewables giant Orsted plans to contribute more than £165,000 (€189,000 / $206,624) to provide support to National Health Service (NHS) workers and local food banks in the UK; Somik Das, Power Analyst at GlobalData, a leading data and analytics company, offers his view: “This move by Orsted is an attempt to […]
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UK lockdown provides opportunity to gain insight into managing renewable energy dominated grid

The collapse in demand for electricity during the COVID-19 lockdown, combined with a greater supply of solar power, has led to the UK not using coal-fired power plants to generate electricity for more than 25 days, according to UK Electric Insights. As of 29 April 2020, 24.7% of the generation came from gas-based generation, 11.5% from solar PV, 20.7% from wind, 0.9% from hydro, 29.5% from […]
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