Electricity procurement contracts up 2% in Q1 2021

Electricity procurement contracts in Q1 2021 saw 204 contracts announced, marking a rise of 2% over the last four-quarter average of 200, according to GlobalData’s power industry contracts database.

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

1. Power Purchase Agreement: 172 contracts and an 84.3% share
2. Project Implementation: 18 contracts and an 8.8% share
3. Electricity Supply: 14 contracts and a 6.9% share.

Asia-Pacific leads electricity procurement activity in Q1 2021

Comparing contracts activity in electricity procurement segment in different regions of the globe, Asia-Pacific held the top position with 71 contracts and a share of 34.8% during Q1 2021, followed by Europe with 61 contracts and a 29.9% share and North America with 59 contracts and a 28.9% share.

Solar is leading technology for electricity procurement contracts in Q1 2021

Among the technologies, solar accounted for 132 contracts with a 58.4% share, followed by wind with 72 contracts and a 31.9% share and hydro with 12 contracts and a 5.3% share.

Electricity procurement contracts in Q1 2021: Top issuers by capacity

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

1. New York State Energy Research & Development Authority (United States): 2,490MW from one contract
2. Manila Electric (Philippines): 1,800MW from two contracts
3. Electricity Generating Authority of Thailand (Thailand): 1,730MW capacity from two contracts.

Electricity procurement contracts in Q1 2021: Top winners by capacity

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

1. Equinor Wind US L (United States): 2,490MW from one contract
2. Korea Gas (South Korea), Korea Western Power (South Korea) and TPI Polene Power (Thailand): 1,700MW from one contract
3. San Miguel (Philippines): 1,200MW 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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