Swiss market for renewable energy -inflating provider Pexapark says that European developers have signed 25 Power Purchase Agreements (PPAs) for a combined 790 MW during the first month of this year.
European developers signed 25 PPAs for 790 MW in January 2024, according to the latest report from Pexapark.
The result is a decrease of 7% of the month-on-month in the number of dealing and a decrease in the contracted capacity of 62% compared to December, which was the second most serious month of 2024.
However, it is largely in line with the result of the first month of 2024, when 22 PPAs were signed for 916 MW, which led to Pexapark who called ‘stable’ the year after year.
The average deal size in January 2024 was around 34 MW. The biggest deal was a 15-year-old offshore wind PPA for around 170 MW.
Pexapark reported an increase in mixed solar and wind PPAs in January, with six agreements of a total of 243 MW-Bijna a quarter of the signed capacity of the month. Deals were registered in Denmark, France, Poland and Sweden, including the largest, a 15-year-old, 75 MW Baseload PPA between Totaleenergies and Stmicroelectronics in France.
“Although the independent sun has dominated the market for a few years and continues to do so to a certain extent, there is a growing trend in the direction of signing PPAs with mixed technologies,” Pexapark said.
The company reported that mixed technological agreements accounted for 10% of the deals and 18% of the signed capacity in 2024, with Spain liding this PPA segment.
Pexapark noted that in itself standing solar can be less attractive in some markets, especially for buyers looking for a more stable generation profile.
“By integrating solar energy and wind, which generally generate electricity at different times, these similarities improve the availability of energy consumption and at the same time reduce exposure to volatile market prices,” the company said.
Pexapark noted that the PPA prices followed in January increased by 1.5% to € 52.53 ($ 55.15)/MWh.
The Nordic and Spanish PPA prices fell sharply and fell 27% and 16.3% respectively, with decreases also registered in France, Great Britain and the Netherlands. The German prices were 0.1%in the month, while Portugal, Italy and Poland saw an increase of 1%, 4.2%and 6.9%respectively.
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