In Q2 2021, the Middle East and Africa’s Power Industry Rise up to 15%

As per GlobalData’s power database, in Q2 2021, the Middle East and Africa’s power industry saw a rise of 15% and saw 106 new contracts. The average number of contracts announced was 92 in the past one year.

In Q2 2021, Saudi Arabia had 24 contracts with 22.6%, down by 4.3% from the previous quarter and up by 85% from the last four-quarter average. UAE had a share of 10.4% with 11 contracts followed by Iran with 9 contracts and a share of 8.5%.

In the last four-quarter, Saudi Arabia was at the top with 13 contracts, UAE and Egypt with 7 contracts (on an average).

Solar with the largest proportion accounted for 60.9% share with 42 contracts.

According to GlobalData, the Middle East and Africa region had 30 contracts with the T&D Project being the most popular segment. This was followed by Power Plant with 28 and Generation Equipment with 23 in Q2 2021.

Project Implementation with 39 contracts and a 36.8% share, followed by Supply & Erection with 25 contracts and a 23.6% share were the proportion of contracts by category in the quarter. The list is followed by Consulting & Similar Services with 20 contracts and 18.9% share, Power Purchase Agreement with 14 contracts and a 13.2% share, and Repair, Maintenance, Upgrade & Others with 8 contracts and a 7.5% share.

In Q2 2021, Saudi Power Procurement with 2,970MW from 7 contracts was the leading issuers of contracts in power capacity, followed by the Ministry of Electricity, Iraq with 2,000MW from 1 contract and ACWA Power International (Saudi Arabia) and The Saudi Public Investment Fund with 1,500MW capacity from 1 contract each.

The top contract winner in Q2 2021 by capacity in the Middle East and Africa region were Abu Dhabi Future Energy (United Arab Emirates) with 2,600MW from 3 contracts, followed by ACWA Power International with 2,500MW from 4 contracts and Larsen & Toubro (India) with 1,800MW capacity from 2 contracts.