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  1. Market Data
April 11, 2022

Energy storage contracts down 19% in Q1 2022

By Carmen

Energy storage contracts in Q1 2022 saw 56 contracts announced, marking a drop of 19% over the last four-quarter average of 69, 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. Project Implementation: 18 contracts and a 32.1% share
  2. Supply & Erection: 18 contracts and a 32.1% share
  3. Power Purchase Agreement: 17 contracts and a 30.4% share
  4. Consulting & Similar Services: three contracts and a 5.4% share.

North America leads energy storage activity in Q1 2022

Comparing contracts activity in energy storage segment in different regions of the globe, North America held the top position with 25 contracts and a share of 44.6% during Q1 2022, followed by Asia-Pacific with 16 contracts and a 28.6% share and Europe with 11 contracts and a 19.6% share.

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Solar is leading technology for energy storage contracts in Q1 2022

Among the technologies, solar accounted for 25 contracts with an 83.3% share, followed by wind with four contracts and a 13.3% share and nuclear with one contract and a 3.3% share.

Energy storage contracts in Q1 2022: Top companies by capacity

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

  1. Pacific Gas and Electric (United States): 1,323.7MW from eight contracts
  2. EDF Renewables North America (United States): 274MW from one contract
  3. Sacramento Municipal Utility District (United States): 200MW capacity from one contract.

Energy storage contracts in Q1 2022: Top winners by capacity

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

  1. China Power Engineering Consulting Group (China): 385.6MW from two contracts
  2. Vistra Energy (United States): 350MW from one contract
  3. Terra-Gen (United States): 349MW capacity from three 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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