Electricity procurement contracts down 2% in Q1 2020

8 May 2020 (Last Updated May 8th, 2020 15:56)

Electricity procurement contracts down 2% in Q1 2020
Oil and gas companies are making moves into the UK energy market.

Electricity procurement contracts in Q1 2020 saw 158 contracts announced, marking a drop of 2% over the last four-quarter average of 161, according to GlobalData’s power industry contracts database.

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

  1. Power Purchase Agreement: 138 contracts and an 87.3% share
  2. Electricity Supply: 18 contracts and an 11.4% share
  3. Project Implementation: two contracts and a 1.3% share.

North America leads electricity procurement activity in Q1 2020

Comparing contracts activity in electricity procurement segment in different regions of the globe, North America held the top position with 46 contracts and a share of 29.1% during Q1 2020, followed by Asia-Pacific with 45 contracts and a 28.5% share and Europe with 43 contracts and a 27.2% share.

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Solar is leading technology for electricity procurement contracts in Q1 2020

Among the technologies, solar accounted for 95 contracts with a 54.6% share, followed by wind with 46 contracts and a 26.4% share and hydro with 14 contracts and an 8% share.

Electricity procurement contracts in Q1 2020: Top companies by capacity

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

  1. Emirates Water and Electricity (United Arab Emirates): 2,400MW from one contract
  2. Ministry of Energy of the Republic of Uzbekistan (Uzbekistan): 1,500MW from one contract
  3. Tri-State Generation and Transmission Association (United States): 815MW capacity from six contracts.

Electricity procurement contracts in Q1 2020: Top winners by capacity

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

  1. Marubeni (Japan): 3,200MW from two contracts
  2. ACWA Power International (Saudi Arabia): 1,500MW from one contract
  3. Solar Energy Corporation of India (India): 1,190.64MW capacity from four 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.