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Electricity procurement contracts up 5% in March 2021

15 Apr 2021 (Last Updated April 15th, 2021 11:22)

Electricity procurement contracts up 5% in March 2021
Oil and gas companies are making moves into the UK energy market.

Electricity procurement contracts in March 2021 saw 69 contracts announced, marking a rise of 5% over the last 12-month average of 66, 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: 53 contracts and a 76.8% share
  2. Project Implementation: nine contracts and a 13% share
  3. Electricity Supply: seven contracts and a 10.1% share.

Asia-Pacific leads electricity procurement activity in March 2021

Comparing contracts activity in electricity procurement segment in different regions of the globe, Asia-Pacific held the top position with 23 contracts and a share of 33.3% during March 2021, followed by Europe with 22 contracts and a 31.9% share and North America with 21 contracts and a 30.4% share.

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Solar is leading technology for electricity procurement contracts in March 2021

Among the technologies, solar accounted for 41 contracts with a 53.9% share, followed by wind with 30 contracts and a 39.5% share and hydro with four contracts and a 5.3% share.

Electricity procurement contracts in March 2021: Top issuers by capacity

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

  1. Electricity Generating Authority of Thailand (Thailand): 1,700MW from one contract
  2. Solar Energy Corporation of India (India): 1,200MW from four contracts
  3. Gujarat Urja Vikas Nigam (India): 500MW capacity from five contracts.

Electricity procurement contracts in March 2021: Top winners by capacity

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

  1. Korea Gas (South Korea), Korea Western Power (South Korea) and TPI Polene Power (Thailand): 1,700MW from one contract
  2. JSW Energy (India): 450MW from one contract
  3. Adani Green Energy (India) and Ayana Renewable Power Pvt (India): 300MW capacity from one contract.

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.