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October 26, 2021

Electricity procurement contracts down 12% in Q3 2021

Electricity procurement contracts in Q3 2021 saw 263 contracts announced, marking a drop of 12% over the last four-quarter average of 298, 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: 228 contracts and an 86.7% share
  2. Electricity Supply: 21 contracts and an 8% share
  3. Project Implementation: 14 contracts and a 5.3% share.

Asia-Pacific leads electricity procurement activity in Q3 2021

Comparing contracts activity in electricity procurement segment in different regions of the globe, Asia-Pacific held the top position with 94 contracts and a share of 35.7% during Q3 2021, followed by North America with 84 contracts and a 31.9% share and Europe with 56 contracts and a 21.3% share.

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Solar is leading technology for electricity procurement contracts in Q3 2021

Among the technologies, solar accounted for 163 contracts with a 56% share, followed by wind with 89 contracts and a 30.6% share and hydro with 16 contracts and a 5.5% share.

Electricity procurement contracts in Q3 2021: Top companies by capacity

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

  1. Solar Energy Corporation of India (India): 4,310MW from 16 contracts
  2. Rajasthan Urja Vikas Nigam (India): 1,200MW from one contract
  3. Tamil Nadu Generation and Distribution (India): 1,000MW capacity from one contract.

Electricity procurement contracts in Q3 2021: Top winners by capacity

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

  1. Solar Energy Corporation of India (India): 3,350.64MW from five contracts
  2. ReNew Power (India): 1,200MW from three contracts
  3. Ayana Renewable Power (India): 750MW 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.

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