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Solar dominates power industry contracts in MEA

Middle East and Africa power industry contracts dropped 3% in quarter three of 2020, with solar being the top tech area for investment in the energy sector.

According to GobalData’s power database, this drop of 3% over the last four-quarter average was from 87 to 84 contracts.

Iran led activity in quarter 3, followed by the United Arab Emirates and Saudi Arabia when compared to the previous quarter. When looking at the last four-quarter average, Saudi Arabia held the top spot with ten contracts, followed by Iran with nine and Egypt with seven.

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Solar accounted for the largest proportion with 22 contracts, making for 42.3% market share. Thermal came in second with a 28.8% share, followed by wind with a 17.3% share. T&D projects were the most popular segment in Middle East and Africa power contract activities (31 contracts) during quarter 3 of 2020, followed by power plant (24) and generation equipment (16).

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

  • Project implementation: 32 contracts (38.1% share)
  • Supply and erection: 20 contracts (23.8%)
  • Consulting and similar services: 17 contracts (20.2%)
  • Power purchase agreement: 11 contracts (13.1%)
  • Repair, maintenance, upgrade and others: 3 contracts (3.6%)
  • Electricity supply: 1 contract (1.2%)

Top issuers of power contracts by capacity involved in Middle East and Africa:

  • Emirates Water and Electricity (United Arab Emirates): 2,000MW from one contract
  • Societe National d’Electricity (Democratic Republic of Congo): 1,000MW from one contract
  • ACWA Power International (Saudi Arabia): 900MW from one contract

Top power contracts in quarter 3 of 2020:

  • EDF Renewables (France): 2,087.2MW from two contracts
  • Jinko Power Technology (China), Abu Dhabi Future Energy (United Arab Emirates) and Abu Dhabi National Energy (United Arab Emirates): 2,000MW from one contract
  • SkyPower (Canada): 1,000Mw capacity from one contract.
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