European developers signed 27 PPAs for 2.09 GW of capacity by December 2024, according to the latest report from Pexapark.
The result is a 105% increase in disclosed volumes and a 50% increase in the number of deals compared to November. It makes December the second strongest month of the past calendar year in terms of volume, surpassed only by February.
The strong performance in December was led by eight record-breaking utility-scale PPA deals, which Pexapark attributed to the usual year-end rush to close deals before the start of the new year.
December’s biggest deal was from Recurrent Energy, a subsidiary of Canadian Solar, which signed a 10-year 300 MW PPA in Spain with an undisclosed US company. This is the second largest solar deal recorded by Pexapark in 2024, surpassed only by one 350 MW agreement signed by Carrefour Group in France in July.
The second and third largest PPAs in December were wind energy deals.
Tracked PPA prices reached €51.76 ($53.89)/MWh in December, up 1.2% from November 2024.
French PPA prices saw the biggest increase, rising 9% month-on-month, while Pexapark also saw price increases in the UK, Scandinavian, Portuguese and Spanish PPA markets. Polish PPA prices fell the most in December, down 3.5%, alongside price falls in the Dutch, German and Italian markets.
This content is copyrighted and may not be reused. If you would like to collaborate with us and reuse some of our content, please contact: editors@pv-magazine.com.
Popular content
