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Prices & Quotes - UK Markets - John Laing Group (JLG)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 401.00p
Change Today:
0.20p
Market Cap:
1,977.93m
Sector:
Financial Services

Renewables set to hit record level in 2020 despite Covid-19 crisis

By Caoimhe Toman

Date: Tuesday 10 Nov 2020

LONDON (ShareCast) - (Sharecast News) - The International Energy Agency expects renewable energy installation to hit a record level in 2020 despite the economic crisis brought on by Covid-19.
Declines in the use of fossil fuels because of the pandemic has benefitted renewables, with the IEA expecting green electricity to end coal's 50-year hegemony in five years' time.

A report published by the rich world's energy watchdog on Tuesday said almost 90% of new electricity generation in 2020 will be renewable, with just 10% powered by gas and coal.

"In sharp contrast to all other fuels, renewables used for generating electricity will grow by almost 7% in 2020. Global energy demand is set to decline 5% - but long-term contracts, priority access to the grid and continuous installation of new plants are all underpinning strong growth in renewable electricity. The net result is an overall increase of 1% in renewable energy demand in 2020," read the report.

The report added that from January to October 2020, auctioned renewable capacity was 15% higher than for the same period last year, a new record.

The IEA expects there to be a record expansion of installation of renewables worldwide of nearly 10% in 2021.

India is expected to be the largest contributor to the renewables upswing in 2021, with the country's annual additions almost doubling from 2020. Another key player in the sector next year will be the European Union, as capacity additions are forecast to jump.

"Renewable power is defying the difficulties caused by the pandemic, showing robust growth while others fuels struggle," said Fatih Birol, the IEA's executive director. "The resilience and positive prospects of the sector are clearly reflected by continued strong appetite from investors."

"In 2025, renewables are set to become the largest source of electricity generation worldwide, ending coal's five decades as the top power provider," Birol said. "By that time, renewables are expected to supply one-third of the world's electricity."

The executive director also said that despite renewables being resilient to the Covid crisis they are still affected by policy uncertainties. "Governments can tackle these issues to help bring about a sustainable recovery and accelerate clean energy transitions," he said.

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JLG Market Data

Currency UK Pounds
Price 401.00p
Change Today 0.20p
52 Week High 404.40p
52 Week Low 273.60p
Volume 148,962
Shares Issued 493.25m
Market Cap 1,977.93m

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What The Brokers Say

Strong Buy 1
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 3
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

JLG Dividends

  Latest Previous
  Final Special
Ex-Div 29-Apr-21 29-Apr-21
Paid 14-May-21 14-May-21
Amount 3.76p 4.06p

Trades for 15-Jun-2021

Time Volume / Share Price
11:05 2,493 @ 401.07p
09:58 1,158 @ 401.00p
09:58 579 @ 401.00p
09:48 3,013 @ 400.80p
09:48 143 @ 400.80p

JLG Key Personnel

CEO Ben Loomes
CFO Robert Memmott