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  1. Market Data
June 22, 2022

Energy storage contracts up 27% in May 2022

By Carmen

Energy storage contracts in May 2022 saw 28 contracts announced, marking a rise of 27% over the last 12-month average of 22, 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. Supply & Erection: 13 contracts and a 46.4% share
  2. Project Implementation: nine contracts and a 32.1% share
  3. Consulting & Similar Services: four contracts and a 14.3% share
  4. Power Purchase Agreement: two contracts and a 7.1% share.

Europe leads energy storage activity in May 2022

Comparing contracts activity in energy storage segment in different regions of the globe, Europe held the top position with nine contracts and a share of 32.1% during May 2022, followed by North America with nine contracts and a 32.1% share and Asia-Pacific with five contracts and a 17.9% share.

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Solar is leading technology for energy storage contracts in May 2022

Among the technologies, solar accounted for 17 contracts with a 73.9% share, followed by wind with six contracts and a 26.1% share.

Energy storage contracts in May 2022: Top companies by capacity

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

  1. Neom (Saudi Arabia): 4,300MW from one contract
  2. Amazon.com (United States): 450MW from one contract
  3. Convergent Energy and Power (United States): 15MW capacity from one contract.

Energy storage contracts in May 2022: Top winners by capacity

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

  1. Larsen & Toubro (Oman) (Oman): 4,300MW from one contract
  2. The AES (United States): 450MW from one contract
  3. Powerchina Chengdu Engineering (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.

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