Energy storage contracts up 31% in Q3 2020

3 November 2020 (Last Updated November 3rd, 2020 07:13)

Energy storage contracts up 31% in Q3 2020

Energy storage contracts in Q3 2020 saw 51 contracts announced, marking a rise of 31% over the last four-quarter average of 39, 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: 19 contracts and a 37.3% share
  2. Supply & Erection: 19 contracts and a 37.3% share
  3. Power Purchase Agreement: 12 contracts and a 23.5% share
  4. Consulting & Similar Services: one contract and a 2% share.

North America leads energy storage activity in Q3 2020

Comparing contracts activity in energy storage segment in different regions of the globe, North America held the top position with 27 contracts and a share of 52.9% during Q3 2020, followed by Asia-Pacific with 13 contracts and a 25.5% share and Europe with nine contracts and a 17.6% share.

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Solar is leading technology for energy storage contracts in Q3 2020

Among the technologies, solar accounted for 23 contracts with a 74.2% share, followed by wind with five contracts and a 16.1% share and thermal with three contracts and a 9.7% share.

Energy storage contracts in Q3 2020: Top issuers by capacity

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

  1. Clean Power Alliance (United States): 464.9MW from three contracts
  2. Key Capture Energy L (United States), NV Energy (United States) and ACT Government (Australia): 200MW from one contract
  3. Gainesville Regional Utilities (United States): 50MW capacity from one contract.

Energy storage contracts in Q3 2020: Top winners by capacity

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

  1. 8minute Solar Energy L (United States): 300MW from one contract
  2. EDF Renewables North America (United States): 200.85MW from two contracts
  3. Mitsubishi Hitachi Power Systems Americas (United States) and Powin Energy (United States): 200MW 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.