Swiss-based analytics firm Pexapark registered 30 power purchase agreements (PPAs) in Europe in October, totaling 2.06 GW of contracted capacity, the highest monthly volume reported so far this year.
European developers signed 30 power purchase agreements (PPA) in October for a total contracted capacity of approximately 2.06 GW, according to the latest analysis from the Swiss Sustainable Energy Research Agency Pexapark
The result is the highest monthly volume reported in 2025, last surpassed by figures from December 2024. It is also a significant improvement over September’s result, when developers signed 19 PPAs for 630 MW.
Pexapark said October’s result was driven by corporate buyers, with companies including French rail operator SNCF, Apple and Amazon announcing multiple deals.
SNCF was the most active buyer, signing seven PPAs for approximately 235 MW of solar energy in France. Apple fell just behind, signing six PPAs for the largest total contracted volume of October by a single buyer, reaching 619 MW of solar and onshore wind deals in multiple countries.
The biggest deal of the month was a 235 MW solar PPA in Britain between Metlen Energy & Metals PLC and Engie SA. The agreement covers six solar projects currently under construction and expected to be completed in the first half of next year.
Five battery energy storage system (BESS) optimization agreements were also announced in October for a total of 317 MW/657 MWh, Pexapark added. The largest was a 202 MW/404 MWh standalone system in Romania, owned by Swedish operator Repono, for Romania’s first publicly announced BESS optimization deal.
According to Pexapark’s latest analysis, PPA prices closed at €46.40 ($53.74)/MWh in October, down 3% month-on-month. The analysts say this is the third downward adjustment this year and comes from continued reductions in assumptions for solar and offshore wind capture under Pay-as-Produced structures.
The biggest decline was recorded in Germany, where PPA prices fell 9.4% month-on-month, reflecting further alignment with market consensus among buyers, according to Pexpark. PPA prices also fell in Great Britain and France, by 5.2% and 0.5% respectively.
In contrast, Pexapark found that PPA prices in the Spanish, Portuguese, Dutch and Italian markets rose by 0.5%, 0.7%, 1.0% and 1.2% respectively. Poland saw the largest monthly increase in PPA prices, which rose 8.1%, which Pexapark attributes to “a calibration that incorporates an updated seasonal pattern and a slightly higher solar forward capture curve.”
Earlier this month, an analysis by Pexapark found that the overall decline in the number of PPAs signed across Europe this year was due to a lack of price consensus between buyers and sellers. The research firm’s tradable price range model, which identifies the range within which PPA deals can realistically occur, found little harmony between the highest buyer bids and the lowest seller bids in Germany, Britain, France, Spain, Portugal and the Nordic region in the third quarter of this year.
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