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March 18, 2021

Electricity procurement contracts down 16% in February 2021

By Amit Sharma

Electricity procurement contracts in February 2021 saw 54 contracts announced, marking a drop of 16% over the last 12-month average of 64, 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: 49 contracts and a 90.7% share
  2. Electricity Supply: five contracts and a 9.3% share.

Asia-Pacific leads electricity procurement activity in February 2021

Comparing contracts activity in electricity procurement segment in different regions of the globe, Asia-Pacific held the top position with 26 contracts and a share of 48.1% during February 2021, followed by Europe with 15 contracts and a 27.8% share and North America with nine contracts and a 16.7% share.

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Solar is leading technology for electricity procurement contracts in February 2021

Among the technologies, solar accounted for 38 contracts with a 60.3% share, followed by wind with 18 contracts and a 28.6% share and hydro with four contracts and a 6.3% share.

Electricity procurement contracts in February 2021: Top issuers by capacity

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

  1. Manila Electric (Philippines): 1,800MW from two contracts
  2. Rio Tinto (United Kingdom): 390MW from one contract
  3. Amazon.com (United States): 380MW capacity from two contracts.

Electricity procurement contracts in February 2021: Top winners by capacity

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

  1. San Miguel (Philippines): 1,200MW from one contract
  2. Masinloc Power Partners (Philippines): 600MW from one contract
  3. Landsvirkjun hf (Iceland): 390MW 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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