Energy storage contracts in Q3 2022 saw 26 contracts announced, marking a drop of 65% over the last four-quarter average of 74, 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: 17 contracts and a 65.4% share
  2. Consulting & Similar Services: four contracts and a 15.4% share
  3. Power Purchase Agreement: four contracts and a 15.4% share
  4. Supply & Erection: one contract and a 3.8% share.

Asia-Pacific leads energy storage activity in Q3 2022

Comparing contracts activity in energy storage segment in different regions of the globe, Asia-Pacific held the top position with 21 contracts and a share of 80.8% during Q3 2022, followed by Middle East and Africa with two contracts and a 7.7% share and North America with two contracts and a 7.7% share.

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Solar is leading technology for energy storage contracts in Q3 2022

Among the technologies, solar accounted for 21 contracts with an 87.5% share, followed by wind with three contracts and a 12.5% share.

Energy storage contracts in Q3 2022: Top companies by capacity

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

  1. Government of Nigeria (Nigeria): 961MW from one contract
  2. State Grid Energy Hefeng Coal and Electricity: 300MW from one contract
  3. China General Nuclear Power (China): 200MW capacity from one contract.

Energy storage contracts in Q3 2022: Top winners by capacity

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

  1. China Energy Engineering (China): 1,757.99MW from seven contracts
  2. Sterling and Wilson Solar Solutions (United States): 961MW from one contract
  3. China Energy Construction Group (China): 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.