Swiss analytics firm Pexapark says two hybrid energy storage agreements (PPAs) for solar and battery power were among 17 deals last month.
European developers signed 17 power purchase agreements (PPAs) in April with a contracted capacity totaling 966 MW, according to the latest analysis from the Swiss Renewable Energy Research Agency Pexapark.
Last month’s deals included two hybrid PPAs for solar and battery energy storage systems (BESS), Pexapark discovered, including a 150MW virtual hybrid PPA between Endesa and Sonnedix for solar and battery assets in both Spain and Portugal.
“While hybrid renewable and BESS PPAs are increasingly popping up across Europe, activity remains relatively limited, with only six such deals publicly announced to date,” Pexapark’s analysis said.
The biggest deal of the month was a hydropower PPA, followed by a cross-border virtual PPA linked to a wind project.
Follow up on logging more than 1 GWh of European storage PPAs in March, Pexapark signed a further nine BESS-related agreements in April for a total of 800 MW/2.8 GWh.
Pexapark says trading structures continue to dominate activity in European markets, while several flexibility purchasing agreements (FPAs) have also been announced. Britain led thanks to contracted battery storage capacity Ham’s hall BESS project.
Pexapark’s tracked PPA prices closed at €44.40 ($51.64)/MWh, down 3% month-on-month.
French PPA prices saw the biggest monthly decline, down 17.4%, which Pexapark said was driven by a calibration based on the latest forward capture curves for solar and onshore wind. PPA prices also fell month-on-month in the UK (-7.9%), Polish (-6.8%), Dutch (-2.5%), German (-1.9%) and Portuguese (-0.1%) markets.
The Scandinavian market saw the largest increase in PPA prices, with an increase of 6.8%, while Spain and Italy saw monthly price increases of 3.7% and 2.8% respectively.
Recent analysis from Pexapark found factors for capturing solar energy in France, Germany, Italy, Poland and Spain have fallen due to a rise in negative electricity prices.
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