A total of 17 power purchase agreements (PPA) were publicly announced in Europe in September, according to the latest analysis from Swiss renewable energy research firm Pexapark.
The deals amount to 630 MW of contracted capacity, with Italy and Spain being the most active markets of the month, accounting for 200 MW and 132 MW respectively.
The largest PPA by capacity in September was an on-site PPA of 140 MW secured by Mercedes-Benz with a 25-year term. The agreement is linked to an onshore wind project currently being developed at the company’s test track in Papenburg, Germany.
September’s result is an improvement over August, when there were nine new PPAs for a capacity of 450 MW, according to one of Pexapark’s previous instructions. However, it marks a slowdown in the European PPA market September 2024when 23 PPAs for 1.03 GW of new capacity were registered.
Pexapark’s latest findings show that tracked PPA prices closed at €47.80 ($55.53)/MWh at the end of September, representing a 2% month-on-month decline.
The Dutch, French, German, Italian, Polish, Portuguese and Spanish markets all recorded downward movements in PPA prices in September. Poland recorded the sharpest decline with a decline of 17.9%. Pexapark says this indicates market participants are applying more conservative assumptions about solar energy.
The UK market saw no change in the average PPA price in September, while the Scandinavian market was the only market analyzed to break the downward trend, recording an increase of 1%.
Last month, pv magazine reported that German solar purchase agreements have not gone well 87% year-on-year.
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
