Experts say the renewable energy market is stable enough to weather short-term fluctuations and may even be poised to experience a boost from efforts to restart economies around the world once the pandemic subsides.
, Francesco La Camera, director general of the International Renewable Energy Agency, said in a statement. But the impacts are expected to be short-lived as many jurisdictions tighten emissions policies.
The Global Wind Energy Council said last month that while wind power would see continued growth amounting to more than 355 gigawatts of capacity over the next five years, the industry would"undoubtedly be impacted by the ongoing COVID-19 pandemic, due to disruptions to global supply chains and project execution in 2020." It added that it was too soon to predict the immediate impact on the sector, but it said it would release updated forecasts in the second quarter of the year.
Iberdrola, the company behind the Spanish solar farm, has been pushing ahead on construction at more than 40 sites worldwide, including wind energy projects in the United Kingdom and the United States, thanks in part to continued investor interest.in the European market on April 1 and an additional $750 million of green bonds in the U.S. through its subsidiary Avangrid. Demand was strong in both markets, according to Iberdrola.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Power Line: Oil recovers slightly, but the worst is yet to come - Business InsiderThis week, we lay out three energy sectors accelerating amid the pandemic, share photos of the oil glut, and explain what's next for the oil industry.
Read more »
Deadly 'Murder Hornets' Make Their Way to North AmericaKiller hornets are the latest issue we have to deal with during the coronavirus pandemic.
Read more »
Coronavirus will define the next generation: What experts are predicting about 'Generation C'Pandemics like coronavirus can be generation-defining events, but experts say it's too early to create a label for those coming after Gen Z.
Read more »
Generation C? What experts are saying about kids born into the coronavirus pandemicWhile experts aren't yet sold on the 'Generation C' label some people are using to define babies born amid coronavirus, they believe the pandemic may define the next generation.
Read more »