19 October
Power consumption in India increased by 11.45% in the first two weeks of October compared to the same period in 2019, due to the reopening of industrial and commercial establishments after Covid-19 restrictions were lifted. The first half of October registered power consumption of 55.37 billion units (BU), while overall electricity utilised in October 2019 was 97.84BU.
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Norwegian solar power company Scatec Solar reported losses in Q3 despite increase in revenues from power production and EBITDA amid the Covid-19 restrictions. The company’s EBITDA jumped to $40.5m from $31m but could not counterbalance the EBITDA losses from the development and construction division which slumped to $2.9m.
A new report from the International Energy Agency’s (IEA) has noted that solar energy is poised to meet one-third of the world’s electricity demand. The report claimed that solar energy consumption is set to increase 13% annually through the next decade. The factors contributing to rise in solar photovoltaic (PV) generation are: policy support from a majority of the countries, availability of resources and plummeting production costs.
