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March 14, 2022

Electricity procurement contracts down 38% in February 2022

Electricity procurement contracts in February 2022 saw 63 contracts announced, marking a drop of 38% over the last 12-month average of 102, according to GlobalData’s power industry contracts database.

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

  1. Power Purchase Agreement: 60 contracts and a 95.2% share
  2. Electricity Supply: three contracts and a 4.8% share.

Europe leads electricity procurement activity in February 2022

Comparing contracts activity in electricity procurement segment in different regions of the globe, Europe held the top position with 25 contracts and a share of 39.7% during February 2022, followed by North America with 18 contracts and a 28.6% share and Asia-Pacific with 11 contracts and a 17.5% share.

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Solar is leading technology for electricity procurement contracts in February 2022

Among the technologies, solar accounted for 34 contracts with a 48.6% share, followed by wind with 26 contracts and a 37.1% share and hydro with six contracts and an 8.6% share.

Electricity procurement contracts in February 2022: Top companies by capacity

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

  1. Rajasthan Rajya Vidyut Utpadan Nigam (India): 1,785MW from one contract
  2. Alcoa (United States): 906.3MW from one contract
  3. Hydro-Quebec (Canada): 297.5MW capacity from two contracts.

Electricity procurement contracts in February 2022: Top winners by capacity

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

  1. Solar Energy Corporation of India (India): 1,785MW from one contract
  2. Endesa (Spain): 906.3MW from one contract
  3. APR Energy (United States): 303MW 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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