Power projects overview: tracking construction aroun d the world
The global power generation projects pipeline, as tracked by Timetric’s Construction Intelligence Center (CIC) is worth $4.78tn. With Asia Pacific leading the way with projects valuing more than $2tn, we offer an overview of the developments adding an estimated 2,944GW of capacity to the world’s power grid
GLOBAL ECONOMIC GROWTH IMPROVED THROUGH 2017 INTO 2018, WITH THE INTERNATIONAL MONETARY FUND REVISING ITS FORECAST UPWARD TO 3.9% FOR 2018 AND 2019. INCREASED INDUSTRIALISATION IN THE DEVELOPING COUNTRIES OF ASIA-PACIFIC AND AFRICA, TOGETHER WITH MASS URBANISATION, HAS INCREASED THE DEMAND FOR RELIABLE ENERGY SOURCES.
The BP Statistical Review 2017 estimates a global consumption of energy in 2016 of 13,276 million tonnes of oil equivalent (Mtoe), of which Asia-Pacific takes the highest share with 5,580Mtoe.
CIC analysis shows China to have the highest value of power generation construction projects, at $541.8bn, followed by India at $470.5bn. The US and the UK come in third and fourth, at $344.3bn and $312bn respectively.
The global power generation projects pipeline has a large value of projects at the pre-work stages, accounting for 66% of the total value.
Private investment is responsible for the funding of the highest proportion of projects, at 42%, while public funding accounts for 33% (the remaining 25% is comprised of projects financed jointly by public and private investment).
the cost of power
The total amount of annual spending in 2019, assuming all tracked projects go ahead as planned.
The lowest value sector is oil power generation, at $36.6bn, as oil producing countries continue to move towards more sustainable sources of energy.
Globally, nuclear power is the highest value category based on CIC-tracked projects, with a total value of $1tn.
The cost of the highest value power generation project globally, the East Anglia Offshore Windfarm Development in the UK.
The value of investment in solar power projects in the Middle East and Africa, which is the dominant region globally.
Although Germany is the largest producer of wind power in Europe, it is a distant second behind the UK for CIC-tracked projects at just $24.4bn, behind the UK’s almost $143bn.
Top 10 power generation construction projects, value by country
Top 10 power generation construction projects, value by type
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