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April 8, 2022

Energy storage contracts down 13% in March 2022

By Carmen

Energy storage contracts in March 2022 saw 20 contracts announced, marking a drop of 13% over the last 12-month average of 23, 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. Project Implementation: ten contracts and a 50% share
  2. Power Purchase Agreement: five contracts and a 25% share
  3. Supply & Erection: four contracts and a 20% share
  4. Consulting & Similar Services: one contract and a 5% share.

Asia-Pacific leads energy storage activity in March 2022

Comparing contracts activity in energy storage segment in different regions of the globe, Asia-Pacific held the top position with nine contracts and a share of 45% during March 2022, followed by North America with nine contracts and a 45% share and Europe with one contract and a 5% share.

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Solar is leading technology for energy storage contracts in March 2022

Among the technologies, solar accounted for 14 contracts with an 82.4% share, followed by wind with three contracts and a 17.6% share.

Energy storage contracts in March 2022: Top companies by capacity

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

  1. Sacramento Municipal Utility District (United States): 200MW from one contract
  2. Olam Food Ingredients: 6MW from one contract.

Energy storage contracts in March 2022: Top winners by capacity

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

  1. DE Shaw Renewable Investments (United States): 200MW from one contract
  2. Hebei Engineering (China), China Power Engineering Consulting Group (China) and PowerChina Nuclear Engineering (China): 100MW from one contract
  3. Shandong Yijian Construction (China): 50MW 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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