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  1. Market Data
April 11, 2022

Global power industry contracts for Q1 2022 down 36%

By Carmen

Power industry contracts activity in Q1 2022 saw 758 contracts announced, marking a drop of 36% over the last four-quarter average of 1,182, according to GlobalData’s power database.

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Power industry contracts in Q1 2022: Asia-Pacific leads global activity

On comparing contracts activity in different regions of the globe, Asia-Pacific held the top position with 270 contracts and a share of 35.6% during Q1 2022, followed by Europe with 242 contracts and a 31.9% share and North America with 146 contracts and a 19.3% share.

In fourth place was Middle East and Africa with 63 contracts and an 8.3% share and in fifth place was South and Central America with 37 contracts and a 4.9% share.

On the basis of the last four-quarter average, Europe held a lead over others with 475 contracts, followed by Asia-Pacific with 344.

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Solar tops by technology in Q1 2022

Looking at contracts by the type of technology, solar accounted for the largest proportion with 322 contracts and a 49.7% share, followed by wind with 211 contracts and a 32.6% share and thermal with 57 contracts and an 8.8% share.

Looking at power industry contracts divided by segment as tracked by GlobalData, Power Plant was the most popular segment in global power contracts activity during Q1 2022, with 253 contracts, followed by Electricity Procurement (212) and Generation Equipment (168).

The proportion of contracts by category tracked by GlobalData in the quarter was as follows:

  1. Project Implementation: 228 contracts and a 30.1% share
  2. Power Purchase Agreement: 208 contracts and a 27.4% share
  3. Supply & Erection: 206 contracts and a 27.2% share
  4. Consulting & Similar Services: 82 contracts and a 10.8% share
  5. Repair, Maintenance, Upgrade & Others: 28 contracts and a 3.7% share
  6. Electricity Supply: four contracts and a 0.5% share
  7. Others: two contracts and a 0.3% share.

Power contracts in Q1 2022: Top companies by capacity

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

  1. Crown Estate Scotland: 24,841MW from 18 contracts
  2. China Huadian (China): 3,000MW from one contract
  3. Rajasthan Rajya Vidyut Utpadan Nigam (India): 1,785MW capacity from one contract.

Power 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): 12,536.6MW from 25 contracts
  2. Scottish Power Generation Holdings (United Kingdom): 5,000MW from two contracts
  3. BP (United Kingdom): 2,907MW 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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