Electricity procurement contracts down 3% in Q2 2020

10 August 2020 (Last Updated August 26th, 2020 14:22)

Electricity procurement contracts down 3% in Q2 2020
Oil and gas companies are making moves into the UK energy market.

Electricity procurement contracts in Q2 2020 saw 170 contracts announced, marking a drop of 3% over the last four-quarter average of 175, 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: 160 contracts and a 94.1% share
  2. Electricity Supply: eight contracts and a 4.7% share
  3. Project Implementation: two contracts and a 1.2% share.

North America leads electricity procurement activity in Q2 2020

Comparing contracts activity in electricity procurement segment in different regions of the globe, North America held the top position with 88 contracts and a share of 51.8% during Q2 2020, followed by Asia-Pacific with 31 contracts and an 18.2% share and Europe with 26 contracts and a 15.3% share.

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Solar is leading technology for electricity procurement contracts in Q2 2020

Among the technologies, solar accounted for 100 contracts with a 59.5% share, followed by wind with 45 contracts and a 26.8% share and hydro with 12 contracts and a 7.1% share.

Electricity procurement contracts in Q2 2020: Top issuers by capacity

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

  1. MP Power Management (India): 1,320MW from one contract
  2. Dubai Electricity and Water Authority (United Arab Emirates): 900MW from one contract
  3. Southern California Edison (United States): 870MW capacity from eight contracts.

Electricity procurement contracts in Q2 2020: Top winners by capacity

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

  1. Pench Thermal Energy (MP) (India): 1,320MW from one contract
  2. ACWA Power International (Saudi Arabia): 900MW from one contract
  3. NextEra Energy Resources L (United States): 585MW capacity from five 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.