Electricity procurement contracts down 25% in April 2020

18 May 2020 (Last Updated May 18th, 2020 14:48)

Electricity procurement contracts down 25% in April 2020

Electricity procurement contracts in April 2020 saw 42 contracts announced, marking a drop of 25% over the last 12-month average of 56, according to GlobalData’s power industry contracts database.

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The proportion of contracts by category tracked by GlobalData in the month was as follows:

  1. Power Purchase Agreement: 41 contracts and a 97.6% share
  2. Electricity Supply: one contract and a 2.4% share.

North America leads electricity procurement activity in April 2020

Comparing contracts activity in electricity procurement segment in different regions of the globe, North America held the top position with 24 contracts and a share of 57.1% during April 2020, followed by Asia-Pacific with six contracts and a 14.3% share and Europe with six contracts and a 14.3% share.

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Solar is leading technology for electricity procurement contracts in April 2020

Among the technologies, solar accounted for 25 contracts with a 55.6% share, followed by wind with 15 contracts and a 33.3% share and hydro with three contracts and a 6.7% share.

Electricity procurement contracts in April 2020: Top companies by capacity

The top issuers of electricity procurement contracts for the month in terms of power capacity involved were:

  1. Dubai Electricity and Water Authority (United Arab Emirates): 900MW from one contract
  2. Verizon Communications (United States): 384MW from two contracts
  3. Rayburn Country Electric Cooperative, (United States): 249MW capacity from one contract.

Electricity procurement contracts in April 2020: Top winners by capacity

The top winners of contracts for the month in terms of power capacity involved were:

  1. ACWA Power International (Saudi Arabia): 900MW from one contract
  2. Belltown Power (United Kingdom): 330MW from two contracts
  3. Clearway Energy Group L (United States): 296MW capacity from two contracts.

All publicly-announced contracts are included in this analysis drawn from GlobalData’s Power database, which covers power plants, T&D projects, equipment markets, analysis reports, capacity and generation, and tracks tenders and contracts on a real-time basis.

More in-depth reports and analysis on all reported contracts are available for subscribers to GlobalData’s Power database.