Electricity procurement contracts up 4% in May 2020

29 June 2020 (Last Updated June 29th, 2020 15:15)

Electricity procurement contracts up 4% in May 2020
Oil and gas companies are making moves into the UK energy market.

Electricity procurement contracts in May 2020 saw 57 contracts announced, marking a rise of 4% over the last 12-month average of 55, 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: 50 contracts and an 87.7% share
  2. Electricity Supply: five contracts and an 8.8% share
  3. Project Implementation: two contracts and a 3.5% share.

North America leads electricity procurement activity in May 2020

Comparing contracts activity in electricity procurement segment in different regions of the globe, North America held the top position with 30 contracts and a share of 52.6% during May 2020, followed by Asia-Pacific with 11 contracts and a 19.3% share and Europe with eight contracts and a 14% share.

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Solar is leading technology for electricity procurement contracts in May 2020

Among the technologies, solar accounted for 28 contracts with a 56% share, followed by wind with 11 contracts and a 22% share and hydro with eight contracts and a 16% share.

Electricity procurement contracts in May 2020: Top companies by capacity

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

  1. MP Power Management (India): 1,320MW from one contract
  2. Southern California Edison (United States): 870MW from eight contracts
  3. CleanCo Queensland: 352MW capacity from one contract.

Electricity procurement contracts in May 2020: Top winners by capacity

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

  1. Pench Thermal Energy (MP) (India): 1,320MW from one contract
  2. NextEra Energy Resources L (United States): 585MW from five contracts
  3. Neoen Australia Pty (Australia): 352MW 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.