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July 15, 2021

Global power industry contracts for Q2 2021 down 22%

By Amit Sharma

Power industry contracts activity in Q2 2021 saw 1,012 contracts announced, marking a drop of 22% over the last four-quarter average of 1,303, according to GlobalData’s power database.

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Power industry contracts in Q2 2021: Europe leads global activity

On comparing contracts activity in different regions of the globe, Europe held the top position with 404 contracts and a share of 39.9% during Q2 2021, followed by Asia-Pacific with 263 contracts and a 26% share and North America with 186 contracts and an 18.4% share.

In fourth place was Middle East and Africa with 106 contracts and a 10.5% share and in fifth place was South and Central America with 53 contracts and a 5.2% share.

On the basis of the last four-quarter average, Europe held a lead over others with 606 contracts, followed by Asia-Pacific with 316.

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Solar tops by technology in Q2 2021

Looking at contracts by the type of technology, solar accounted for the largest proportion with 454 contracts and a 50.3% share, followed by wind with 277 contracts and a 30.7% share and thermal with 73 contracts and an 8.1% share.

Looking at power industry contracts divided by segment as tracked by GlobalData, Power Plant was the most popular segment in global power contracts activity during Q2 2021, with 380 contracts, followed by Generation Equipment (254) and Electricity Procurement (249).

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

  1. Project Implementation: 342 contracts and a 33.8% share
  2. Supply & Erection: 268 contracts and a 26.5% share
  3. Power Purchase Agreement: 217 contracts and a 21.4% share
  4. Consulting & Similar Services: 105 contracts and a 10.4% share
  5. Repair, Maintenance, Upgrade & Others: 60 contracts and a 5.9% share
  6. Electricity Supply: 17 contracts and a 1.7% share
  7. Others: three contracts and a 0.3% share.

Power contracts in Q2 2021: Top issuers by capacity

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

  1. State Power Investment (China): 7,200MW from one contract
  2. Urzad Regulacji Energetyki (Poland): 5,530MW from four contracts
  3. Ministry of Energy of the Republic of Uzbekistan (Uzbekistan): 3,897MW capacity from four contracts.

Power contracts in Q2 2021: Top winners by capacity

The top winners of contracts for the quarter in terms of power capacity involved were:

  1. Jolywood (Taizhou) Solar Technology (China): 7,200MW from one contract
  2. Abu Dhabi Future Energy (United Arab Emirates): 5,462MW from nine contracts
  3. ACWA Power International (Saudi Arabia): 4,000MW capacity from five 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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