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  1. Market Data
April 11, 2022

Power industry contracts in North America for Q1 2022 down 27%

By Carmen

North America power industry contracts activity in Q1 2022 saw 146 contracts announced, marking a drop of 27% over the last four-quarter average of 201, according to GlobalData’s power database.

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North America power industry contracts in Q1 2022: The US leads activity

Looking at contracts by country, the US led the activity in Q1 2022 with 127 contracts and a share of 87%, down 4.7% over the previous quarter and down 30% when compared with the last four-quarter average, followed by Canada with 14 contracts and a share of 9.6% and Mexico with four contracts and a share of 2.7% during the quarter.

Looking at the last four-quarter average, the US held the top spot with 181 contracts, followed by Canada with 14 and Mexico with three 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 76 contracts and a 61.8% share, followed by wind with 28 contracts and a 22.8% share and thermal with nine contracts and a 7.3% share.

Looking at power industry contracts divided by segment as tracked by GlobalData, Electricity Procurement was the most popular segment in North America power contracts activity during Q1 2022, with 81 contracts, followed by Power Plant (27) and Energy Storage (25).

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

  1. Power Purchase Agreement: 79 contracts and a 54.1% share
  2. Supply & Erection: 34 contracts and a 23.3% share
  3. Project Implementation: 19 contracts and a 13% share
  4. Repair, Maintenance, Upgrade & Others: six contracts and a 4.1% share
  5. Consulting & Similar Services: five contracts and a 3.4% share
  6. Electricity Supply: two contracts and a 1.4% share
  7. Others: one contract and a 0.7% 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 North America were:

  1. Comision Federal de Electricidad (Mexico): 1,500MW from one contract
  2. Pacific Gas and Electric (United States): 1,323.7MW from eight contracts
  3. Hoosier Energy Rural Electric Cooperative (United States): 1,000MW 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 North America were:

  1. Tecnicas Reunidas (Spain) and TSK Group (Spain): 1,500MW from one contract
  2. Hallador Energy (United States): 1,000MW from one contract
  3. Apex Clean Energy Holdings (United States): 625MW 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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