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June 22, 2022

Global power industry contracts in May 2022: Thermal technology down 13%

By Carmen

Thermal technology contracts activity in May 2022 saw 20 contracts announced, marking a drop of 13% over the last 12-month average of 23, according to GlobalData’s power industry contracts database.

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Gas was the top category in thermal technology in terms of number of contracts for the month, accounting for 14 contracts and a 70% share, followed by Coal with five contracts and a 25% share. Oil stood in third place with one contract and a 5% share.

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Looking at global power contracts activity divided by the type of technology, thermal held the third position in terms of number of contracts during May 2022 with a 10.8% share.

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

  1. Project Implementation: 11 contracts and a 55% share
  2. Repair, Maintenance, Upgrade & Others: four contracts and a 20% share
  3. Supply & Erection: three contracts and a 15% share
  4. Consulting & Similar Services: one contract and a 5% share
  5. Power Purchase Agreement: one contract and a 5% share.

Asia-Pacific leads thermal contracts activity in May 2022

Comparing contracts activity in thermal technology in different regions of the globe, Asia-Pacific held the top position with 14 contracts and a share of 70% during May 2022, followed by Middle East and Africa with three contracts and a 15% share and South and Central America with two contracts and a 10% share.

In fourth place was North America with one contract and a 5% share.

Thermal technology contracts in May 2022: Top companies by capacity

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

  1. Vietnam Electricity (Vietnam): 1,200MW from one contract
  2. Zhenhai Natural Gas Power Generation (China): 860MW from one contract
  3. Ministerio de Energia y Minas (Dominican Republic): 800MW capacity from two contracts.

Thermal 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. Vietnam National Oil and Gas Group (Vietnam): 1,200MW from one contract
  2. China Energy Engineering (China): 1,010MW from two contracts
  3. Zhejiang Electric Power Construction (China): 860MW 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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