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  1. Market Data
April 11, 2022

Global power industry contracts in Q1 2022: Solar technology down 37%

By Carmen

Solar technology contracts activity in Q1 2022 saw 322 contracts announced, marking a drop of 37% over the last four-quarter average of 512, 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 Q1 2022 with a 49.7% share.

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

  1. Power Purchase Agreement: 129 contracts and a 40.1% share
  2. Project Implementation: 118 contracts and a 36.6% share
  3. Supply & Erection: 57 contracts and a 17.7% share
  4. Consulting & Similar Services: 11 contracts and a 3.4% share
  5. Repair, Maintenance, Upgrade & Others: five contracts and a 1.6% share
  6. Electricity Supply: two contracts and a 0.6% share.

Asia-Pacific leads solar contracts activity in Q1 2022

Comparing contracts activity in solar technology in different regions of the globe, Asia-Pacific held the top position with 136 contracts and a share of 42.2% during Q1 2022, followed by North America with 76 contracts and a 23.6% share and Europe with 67 contracts and a 20.8% share.

In fourth place was Middle East and Africa with 23 contracts and a 7.1% share and in fifth place was South and Central America with 20 contracts and a 6.2% share.

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Solar technology contracts in Q1 2022: Top companies by capacity

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

  1. China Huadian (China): 3,000MW from one contract
  2. Rajasthan Rajya Vidyut Utpadan Nigam (India): 1,785MW from one contract
  3. Saudi Power Procurement (Saudi Arabia): 1,000MW capacity from two contracts.

Solar technology 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): 9,126.6MW from 19 contracts
  2. Solar Energy Corporation of India (India): 2,275MW from two contracts
  3. Greenko Energies (India): 975MW 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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