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October 26, 2021

Energy storage contracts down 11% in Q3 2021

Energy storage contracts in Q3 2021 saw 58 contracts announced, marking a drop of 11% over the last four-quarter average of 65, 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. Supply & Erection: 21 contracts and a 36.2% share
  2. Project Implementation: 17 contracts and a 29.3% share
  3. Power Purchase Agreement: 16 contracts and a 27.6% share
  4. Repair, Maintenance, Upgrade & Others: four contracts and a 6.9% share.

North America leads energy storage activity in Q3 2021

Comparing contracts activity in energy storage segment in different regions of the globe, North America held the top position with 27 contracts and a share of 46.6% during Q3 2021, followed by Asia-Pacific with 15 contracts and a 25.9% share and Europe with eight contracts and a 13.8% share.

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Solar is leading technology for energy storage contracts in Q3 2021

Among the technologies, solar accounted for 36 contracts with an 83.7% share, followed by wind with four contracts and a 9.3% share and thermal with three contracts and a 7% share.

Energy storage contracts in Q3 2021: Top companies by capacity

The top issuers of energy storage contracts for the quarter in terms of power capacity involved were:

  1. Badan Pengusahaan Batam: 2,200MW from one contract
  2. Three Gorges New Energy Siziwangqi (China): 2,000MW from one contract
  3. Amazon.com (United States): 474MW capacity from one contract.

Energy storage contracts in Q3 2021: Top winners by capacity

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

  1. Sunseap Group (Singapore): 2,200MW from one contract
  2. China Power Engineering Consulting Group (China): 2,000MW from one contract
  3. TotalEnergies (France): 474MW 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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