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April 11, 2022

Asia-Pacific power plant contracts activity down 23% in Q1 2022

By Carmen

There were 120 power plant contracts announced in the Asia-Pacific region in Q1 2022, marking a drop of 23% over the last four-quarter average of 156, according to GlobalData’s power industry contracts database.

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Power Plant stood at first place when compared with other power tender categories in the Asia-Pacific region in Q1 2022 with 120 contracts and a 37.2% share, followed by T&D Project with 64 contracts and a 19.8% share and Generation Equipment with 60 contracts and an 18.6% share during the quarter.

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

  1. Project Implementation: 86 contracts and a 71.7% share
  2. Consulting & Similar Services: 21 contracts and a 17.5% share
  3. Repair, Maintenance, Upgrade & Others: seven contracts and a 5.8% share
  4. Power Purchase Agreement: six contracts and a 5% share.

Solar is top technology for Asia-Pacific power plant contracts in Q1 2022

Looking at power plant contracts by the type of technology in the Asia-Pacific region, solar accounted for 78 contracts with a 62.4% share, followed by wind with 20 contracts and a 16% share and thermal with 19 contracts and a 15.2% share.

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Asia-Pacific power plant contracts in Q1 2022: Top companies by capacity

The top issuers of power plant contracts for the quarter in terms of power capacity involved in Asia-Pacific were:

  1. China Huadian (China): 3,000MW from one contract
  2. Hubei Qichun Garden Pumped Storage Power Station: 1,200MW from one contract
  3. ArcelorMittal (Luxembourg): 975MW capacity from one contract.

Asia-Pacific power plant contracts in Q1 2022: Top winners by capacity

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

  1. China Power Engineering Consulting Group (China): 12,536.6MW from 25 contracts
  2. Greenko Energies (India): 975MW from one contract
  3. Ocean Winds (Spain) and Aker Offshore Wind Holding (Norway): 870MW 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.

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