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April 11, 2022

Power industry contracts in Asia-Pacific for Q1 2022 down 22%

By Carmen

Asia-Pacific power industry contracts activity in Q1 2022 saw 270 contracts announced, marking a drop of 22% over the last four-quarter average of 344, according to GlobalData’s power database.

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Asia-Pacific power industry contracts in Q1 2022: China leads activity

Looking at contracts by country, China led the activity in Q1 2022 with 124 contracts and a share of 45.9%, up 8.2% over the previous quarter and up 24% when compared with the last four-quarter average, followed by India with 52 contracts and a share of 19.3% and Australia with 19 contracts and a share of 7% during the quarter.

Looking at the last four-quarter average, China held the top spot with 100 contracts, followed by India with 68 and Australia with 24 contracts.

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Solar is top technology area for contracts in Q1 2022

Looking at contracts divided by the type of technology, solar accounted for the largest proportion with 136 contracts and a 56.7% share, followed by wind with 54 contracts and a 22.5% share and thermal with 28 contracts and an 11.7% share.

Looking at power industry contracts divided by segment as tracked by GlobalData, Power Plant was the most popular segment in Asia-Pacific power contracts activity during Q1 2022, with 120 contracts, followed by T&D Project (64) and Generation Equipment (60).

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

  1. Project Implementation: 109 contracts and a 40.4% share
  2. Supply & Erection: 54 contracts and a 20% share
  3. Power Purchase Agreement: 51 contracts and an 18.9% share
  4. Consulting & Similar Services: 48 contracts and a 17.8% share
  5. Repair, Maintenance, Upgrade & Others: eight contracts and a 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 in Asia-Pacific were:

  1. China Huadian (China): 3,000MW from one contract
  2. Rajasthan Rajya Vidyut Utpadan Nigam (India): 1,785MW from one contract
  3. Hubei Qichun Garden Pumped Storage Power Station: 1,200MW 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 in Asia-Pacific were:

  1. China Power Engineering Consulting Group (China): 12,536.6MW from 25 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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