Swiss consultancy Pexapark says European developers signed 23 power purchase agreements (PPAs) in September, totaling 1.03 GW. The total volume of PPAs over the first nine months of 2024 amounts to 11.4 GW.
European developers signed 23 PPAs for 1.03 GW in September, according to the latest report from Pexapark.
This represents a 125% month-on-month volume increase, after August, which had the lowest monthly result of the year.
Tracked PPA prices reached €50.08 ($54.00)/MWh in September, down 4.2% month-on-month and reversing the upward trend of the previous two months, as PPA prices fell in all analyzed markets.
Polish PPA prices fell by 7.5%, followed by French and Scandinavian PPA prices, which fell by 6.6% and 6%, respectively. Pexapark also noted monthly PPA price decreases in Germany, Great Britain, Italy, Netherlands, Portugal and Spain.
The two largest deals in September came from the Energize Program, a consortium of 24 global pharmaceutical companies. They entered into two solar PPAs in Spain.
The first deal involves seven companies and suppliers securing 161.4 MW from three projects developed by Zelestra. In the second case, four pharmaceutical companies purchased 118 MW of solar energy in four projects from Bruc Energy.
In the third largest deal, Salzgitter purchased 113 MW from Energiekontor’s solar portfolio in Germany. In addition, 25 Danish companies signed a five-year solar PPA – the largest in Denmark in terms of number of signatories.
Pexapark’s analysis shows that 62 deals for 2.7 GW were signed in Q3 2024, compared to 4.1 GW from 57 deals in Q3 2023.
Solar accounted for 71% of deal volume in Q3 2024, accounting for more than 1.9 GW, and 58% of deal volume, equivalent to 36 deals. Spain is responsible for the lion’s share of solar deals this quarter, with around 750 MW across 12 deals, followed by France, Germany and Italy.
The volume of PPAs over the first nine months of 2024 totals 11.4 GW, Pexapark said, compared to 13.2 GW over the first nine months of 2023.
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