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Energy storage contracts down 29% in Q1 2021

13 Apr 2021 (Last Updated April 12th, 2021 06:39)

Energy storage contracts down 29% in Q1 2021

Energy storage contracts in Q1 2021 saw 37 contracts announced, marking a drop of 29% over the last four-quarter average of 52, 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. Project Implementation: 17 contracts and a 45.9% share
  2. Supply & Erection: 17 contracts and a 45.9% share
  3. Consulting & Similar Services: one contract and a 2.7% share
  4. Electricity Supply: one contract and a 2.7% share
  5. Power Purchase Agreement: one contract and a 2.7% share.

North America leads energy storage activity in Q1 2021

Comparing contracts activity in energy storage segment in different regions of the globe, North America held the top position with 19 contracts and a share of 51.4% during Q1 2021, followed by Europe with eight contracts and a 21.6% share and Asia-Pacific with six contracts and a 16.2% share.

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Solar is leading technology for energy storage contracts in Q1 2021

Among the technologies, solar accounted for 17 contracts with a 73.9% share, followed by thermal with four contracts and a 17.4% share and wind with two contracts and an 8.7% share.

Energy storage contracts in Q1 2021: Top issuers by capacity

The top issuers of energy storage contracts for the quarter in terms of power capacity involved were:

  1. New York State Energy Research & Development Authority (United States): 343MW from three contracts
  2. Valley Clean Energy Alliance (United States): 165MW from one contract
  3. Facebook (United States): 150MW capacity from one contract.

Energy storage contracts in Q1 2021: Top winners by capacity

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

  1. EDP Renewables North America L (United States): 224MW from two contracts
  2. NextEra Energy Resources L (United States): 165MW from one contract
  3. Tennessee Valley Authority (United States): 150MW 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.