Pexapark says European developers signed 13 PPAs for 460.4 MW in August – pv magazine International

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Swiss consulting firm Pexapark says European developers signed 13 power purchase agreements (PPAs) totaling 460.4 MW in August, down 62% month on month in terms of capacity. It represents the lowest monthly PPA volume since August 2023.

September 25, 2024 Patrick Jowett

European developers signed 13 PPAs for 460.4 MW in August, according to the latest report from Pexapark.

The result is a 62% decrease in terms of volumes when compared to July. The Swiss consulting firm said it is the lowest monthly PPA capacity total since August 2023, which saw 318 MW across 10 deals, and is “therefore in line with similar patterns over the past years.”

Tracked PPA prices reached €52.25 ($58.46)/MWh in August, a 1.3% increase compared to August. British PPA prices recorded the largest increase, gaining 3.7%, which Pexapark said was driven by volatility in global gas markets. PPA prices also increased in Italy, the Netherlands, the Nordics, Portugal and Spain, but fell in France, Poland and Germany by 0.9%, 0.2% and 0.1%.

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 with Engie in Spain. The deal will see it offtake around 180 GWh per year from two solar arrays and two onshore wind farms.

It was followed by a PPA between Norway’s Statkraft and an unnamed technology company for the output 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 throughout the whole of 2023.

“Six out of those are onshore PPAs, which is a remarkably high share compared to other countries,” Pexapark said, adding that most comes from the country’s large IT sector.

By August, the monthly average for new PPA capacity in 2024 had reached 1,295 MW, slightly lower than the 1,332 MW recorded by the same time in 2023.

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