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  1. Market Data
April 11, 2022

Global power industry contracts in Q1 2022: Thermal technology down 39%

By Carmen

Thermal technology contracts activity in Q1 2022 saw 57 contracts announced, marking a drop of 39% over the last four-quarter average of 94, 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 quarter, accounting for 39 contracts and a 70.9% share, followed by Coal with 11 contracts and a 20% share. Oil stood in third place with five contracts and a 9.1% 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 Q1 2022 with an 8.8% share.

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

  1. Project Implementation: 18 contracts and a 31.6% share
  2. Supply & Erection: 16 contracts and a 28.1% share
  3. Repair, Maintenance, Upgrade & Others: ten contracts and a 17.5% share
  4. Consulting & Similar Services: nine contracts and a 15.8% share
  5. Electricity Supply: two contracts and a 3.5% share
  6. Power Purchase Agreement: two contracts and a 3.5% share.

Asia-Pacific leads thermal contracts activity in Q1 2022

Comparing contracts activity in Thermal technology in different regions of the globe, Asia-Pacific held the top position with 28 contracts and a share of 49.1% during Q1 2022, followed by Europe with 12 contracts and a 21.1% share and North America with nine contracts and a 15.8% share.

In fourth place was Middle East and Africa with five contracts and an 8.8% share and in fifth place was South and Central America with three contracts and a 5.3% share.

Thermal technology contracts in Q1 2022: Top companies by capacity

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

  1. Comision Federal de Electricidad (Mexico): 1,500MW from one contract
  2. Hoosier Energy Rural Electric Cooperative (United States): 1,000MW from one contract
  3. Huaihe Energy Holding Group (China): 900MW capacity from one contract.

Thermal 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): 3,157MW from five contracts
  2. Tecnicas Reunidas (Spain) and TSK Group (Spain): 1,500MW from one contract
  3. Hallador Energy (United States): 1,000MW 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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