Tokyo Electric Power to construct solar plant in U.S.
CALIFORNIA - Tokyo Electric Power's U.S. subsidiary Eurus Energy Holdings plans to construct a solar power plant in the state of California, reported Agence France-Presse, citing the Nikkei business daily.
According to the report, the company intends to benefit from incentives expected to be provided by the new U.S. government to boost solar power generation. The company plans to start operations at the 1,000kW plant by 2010.
Earlier, the U.S. government announced that it had allocated $38 billion for investments in the environmental and energy sectors and $20 billion in tax incentives to provide impetus to private investment in this sector.
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ST. JOHNS - Newfoundland and Labrador's Crown energy corporation reported a pandemic-related profit loss from the first quarter of 2020 on Tuesday, along with further complications to the beleaguered Muskrat Falls hydroelectric project.
Nalcor Energy recorded a profit loss of $171 million in the first quarter of 2020, down from a $92 million profit in the same period last year, due in part to falling oil prices during the COVID-19 pandemic.
The company released its financial statements for 2019 and the first quarter of 2020 on Tuesday, and officials discussed the numbers in a livestreamed presentation that detailed the impact of the…
