Oil and gas companies are making moves into the UK energy market.

Electricity procurement contracts in Q1 2022 saw 212 contracts announced, marking a drop of 36% over the last four-quarter average of 332, 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: 208 contracts and a 98.1% share
  2. Electricity Supply: four contracts and a 1.9% share.

North America leads electricity procurement activity in Q1 2022

Comparing contracts activity in electricity procurement segment in different regions of the globe, North America held the top position with 81 contracts and a share of 38.2% during Q1 2022, followed by Europe with 57 contracts and a 26.9% share and Asia-Pacific with 51 contracts and a 24.1% share.

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Solar is leading technology for electricity procurement contracts in Q1 2022

Among the technologies, solar accounted for 131 contracts with a 60.9% share, followed by wind with 68 contracts and a 31.6% share and hydro with eight contracts and a 3.7% share.

Electricity procurement contracts in Q1 2022: Top companies by capacity

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

  1. Rajasthan Rajya Vidyut Utpadan Nigam (India): 1,785MW from one contract
  2. Alcoa (United States): 1,479.3MW from two contracts
  3. Pacific Gas and Electric (United States): 1,323.7MW capacity from eight contracts.

Electricity procurement contracts in Q1 2022: 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): 2,275MW from two contracts
  2. Hallador Energy (United States): 1,000MW from one contract
  3. Endesa (Spain): 906.3MW 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.