Energy storage contracts up 42% in Q2 2020

10 August 2020 (Last Updated August 21st, 2020 07:54)
Energy storage contracts up 42% in Q2 2020

Energy storage contracts in Q2 2020 saw 47 contracts announced, marking a rise of 42% over the last four-quarter average of 33, 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: 18 contracts and a 38.3% share
  2. Project Implementation: 14 contracts and a 29.8% share
  3. Supply & Erection: 14 contracts and a 29.8% share
  4. Consulting & Similar Services: one contract and a 2.1% share.

North America leads energy storage activity in Q2 2020

Comparing contracts activity in energy storage segment in different regions of the globe, North America held the top position with 31 contracts and a share of 66% during Q2 2020, followed by Asia-Pacific with six contracts and a 12.8% share and Europe with five contracts and a 10.6% share.

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Solar is leading technology for energy storage contracts in Q2 2020

Among the technologies, solar accounted for 24 contracts with an 80% share, followed by wind with four contracts and a 13.3% share and biopower with one contract and a 3.3% share.

Energy storage contracts in Q2 2020: Top issuers by capacity

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

  1. Southern California Edison (United States): 870MW from eight contracts
  2. Solar Energy Corporation of India (India): 400MW from one contract
  3. Monterey Bay Community Power (United States): 195MW capacity from two contracts.

Energy storage contracts in Q2 2020: Top winners by capacity

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

  1. NextEra Energy Resources L (United States): 585MW from five contracts
  2. Renew Solar Power Pvt (India): 400MW from one contract
  3. 8minute Solar Energy L (United States): 200MW capacity from two 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.