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  1. Market Data
January 18, 2021

Energy storage contracts up 13% in Q4 2020

Energy storage contracts in Q4 2020 saw 51 contracts announced, marking a rise of 13% over the last four-quarter average of 45, 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: 22 contracts and a 43.1% share
  2. Supply & Erection: 15 contracts and a 29.4% share
  3. Power Purchase Agreement: 12 contracts and a 23.5% share
  4. Electricity Supply: one contract and a 2% share
  5. Repair, Maintenance, Upgrade & Others: one contract and a 2% share.

North America leads energy storage activity in Q4 2020

Comparing contracts activity in energy storage segment in different regions of the globe, North America held the top position with 21 contracts and a share of 41.2% during Q4 2020, followed by Asia-Pacific with 14 contracts and a 27.5% share and Middle East and Africa with eight contracts and a 15.7% share.

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Solar is leading technology for energy storage contracts in Q4 2020

Among the technologies, solar accounted for 31 contracts with an 81.6% share, followed by thermal with five contracts and a 13.2% share and wind with one contract and a 2.6% share.

Energy storage contracts in Q4 2020: Top issuers by capacity

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

  1. Terra-Gen L (United States): 1,118MW from one contract
  2. Northern Indiana Public Service Co L (United States): 635MW from two contracts
  3. The Red Sea Development: 210MW capacity from one contract.

Energy storage contracts in Q4 2020: Top winners by capacity

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

  1. Mortenson Construction (United States): 1,118MW from one contract
  2. NextEra Energy Resources L (United States): 635MW from two contracts
  3. ACWA Power International (Saudi Arabia): 210MW 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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