Covid-19 briefing

6.5%

The Spanish Government downgraded its economic growth forecast for 2021 to 6.5% from its earlier projection of 7.2%.

9.6%

According to the revised estimates of Philippines Statistics Authority, real GDP contracted by 9.6% in 2020 with Q4 2020 economic growth at -8.3%.

WIND

Relaxation of project commissioning deadlines by countries for policy incentives is likely to spill over some capacity to 2021.

Supply chain issues caused by the pandemic are also leading to project delays.

COAL

During the period Jan–Sep 2020, Europe’s coal generation fell 22.3% as compared to the same period in 2019.

In the US, generation from coal-fired power plants fell by 27.5% during Jan–Jul 2020, as compared to the same period in the previous year.

NUCLEAR

During the period Jan–Sep 2020, Europe’s nuclear generation fell 13.6% as compared to the same period in 2019.

In the US, generation from nuclear power plants fell by 1.7% during Jan–Jul 2020, as compared to the same period in the previous year.

GAS

In the US, natural gas has remained the leading source of electricity, growing at 7.1% during Jan–Jul 2020, as compared to the same period in 2019.

Gas-based generation in Europe was down 8.3% between Jan–Sep 2020 compared to the same period in 2019.

SOLAR

Solar panel manufacturing in China seems to be on track in H1 2020, with a 15.7% YoY growth.

Renewable power generation in Europe was 9.8% higher between Jan–Sep 2020, compared to the same period in 2019.