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June 22, 2022

Global power industry contracts in May 2022: Solar technology down 34%

By Carmen

Solar technology contracts activity in May 2022 saw 99 contracts announced, marking a drop of 34% over the last 12-month average of 151, according to GlobalData’s power industry contracts database.

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Looking at global power contracts activity divided by the type of technology, solar held the top position in terms of number of contracts during May 2022 with a 53.5% share.

The proportion of contracts by category in the Solar technology tracked by GlobalData in the month was as follows:

  1. Project Implementation: 54 contracts and a 54.5% share
  2. Power Purchase Agreement: 28 contracts and a 28.3% share
  3. Supply & Erection: 12 contracts and a 12.1% share
  4. Consulting & Similar Services: three contracts and a 3% share
  5. Repair, Maintenance, Upgrade & Others: two contracts and a 2% share.

Asia-Pacific leads solar contracts activity in May 2022

Comparing contracts activity in solar technology in different regions of the globe, Asia-Pacific held the top position with 53 contracts and a share of 53.5% during May 2022, followed by North America with 22 contracts and a 22.2% share and Europe with 13 contracts and a 13.1% share.

In fourth place was South and Central America with six contracts and a 6.1% share and in fifth place was Middle East and Africa with five contracts and a 5.1% share.

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Solar technology contracts in May 2022: Top companies by capacity

The top issuers of contracts in Solar technology for the month in terms of power capacity involved were:

  1. Neom (Saudi Arabia): 4,300MW from one contract
  2. SJVN (India): 1,000MW from one contract
  3. People’s Government of Yongfu County: 900MW capacity from one contract.

Solar technology 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. PowerChina Hubei Engineering (China): 2,450MW from two contracts
  3. Tata Power Solar Systems (India): 1,300MW capacity from two 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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