Swiss consultancy Pexapark says European developers signed 13 power purchase agreements (PPAs) in August for a total of 460.4 MW, a decline of 62% month on month in terms of capacity. It represents the lowest monthly PPA volume since August 2023.
European developers signed 13 PPAs for 460.4 MW in August, according to the latest report from Pexapark.
The result is a volume decrease of 62% compared to July. The Swiss consultancy said this is the lowest monthly PPA capacity total since August 2023, with 318 MW across 10 deals, and “thus in line with similar patterns in recent years.”
Tracked PPA prices reached €52.25 ($58.46)/MWh in August, an increase of 1.3% compared to August. UK PPA prices recorded the biggest increase, up 3.7%, which Pexapark said was driven by volatility in global gas markets. PPA prices also rose in Italy, the Netherlands, Scandinavia, Portugal and Spain, but fell by 0.9%, 0.2% and 0.1% in France, Poland and Germany.
For the second consecutive month, French retailer Carrefour signed the largest PPA of the month, this time for 89 MW of solar and onshore wind energy with Engie in Spain. The deal will make it boom 180 GWh per year from two solar panels and two onshore wind farms.
It was followed by a PPA between Norway’s Statkraft and an unnamed technology company for the production of the 80.5 MW South Meath solar farm in Ireland.
Pexapark noted that Ireland has already seen eight PPAs this year, compared to four in all of 2023.
“Six of these are onshore PPAs, which is a remarkably high share compared to other countries,” Pexapark said, adding that most come from the country’s large IT sector.
In August, the monthly average for new PPA capacity in 2024 was 1,295 MW, slightly lower than the 1,332 MW recorded around the same time in 2023.
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