Pexapark, a Switzerland-based provider of renewable energy market intelligence, says European developers signed 29 power purchase agreements (PPAs) in October, totaling more than 1.2 GW.
According to Pexapark’s latest report, European developers signed 29 PPAs for 1,227 MW in October.
The result is a 20% increase in disclosed volumes compared to September and a 26% increase in the number of deals. This makes October the fourth strongest month of the year so far in terms of volumes and the third in terms of number of deals.
Tracked PPA prices reached €49.24 ($51.78)/MWh, down 1.7% month-on-month. Britain saw the biggest change, down 6% month-on-month, but Pexapark also saw PPA price falls in France, Germany, Italy, the Netherlands, the Nordics and Poland.
Portugal and Spain were the exceptions, with tracked PPA prices rising 1% month-on-month in each market.
The largest deal in October was signed between Quinbrook Infrastructure Partners and supermarket chain Tesco in Great Britain. The 15-year PPA covers 242 MW of a 373 MW solar plus storage project in Cleve Hill, Kent. It marks Britain’s largest solar purchase and Tesco’s largest PPA to date.
It was followed by a 200 MW PPA in Spain, for one onshore wind project and three solar projects, between telecoms company Cellnex and Madrid-based Elawan Energy.
The third largest deal of the month was a five-year, onshore wind and solar PPA in France between manufacturing company Saint-Gobain and TotalEnergies, expected to reach 146 MW per year.
Pexapark says the total volume of PPAs for the first ten months of this year is 12.8 GW, compared to 14.9 GW in the same period of 2023. However, the number of deals is higher than in 2023, indicating more deals with smaller volumes.
“The average PPA size to date has decreased from 73 MW in 2023 to 56 MW in 2024,” Pexapark said. “This equates to fewer very large PPAs announced this year, but more companies with a lower appetite for volumes.”
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.
