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POWER: EU PPA Market Sees 29 Deals in Oct, YTD Volumes Lag Behind 2023 Levels

POWER
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The EU PPA market recorded 29 deals in October 2024, a notable 26% increase month-on-month in deal count, but year-to-date figures remain subdued, with 12.8GW recorded compared to 14.9GW by the same time in 2023, according to Pexapark today.

  • October's total PPA volumes reached around 1.23GW, marking a 14.7% decline year-on-year, however, a 19% gain on the month. The average deal size dropped to 56MW so far in 2024, down from 73MW in 2023.
  • Solar continued to lead the market, driven by Iberian activity, while Germany’s PPAs included significant allocations for green hydrogen production.
  • Tesco signed the UK’s largest solar PPA, securing 242MW from the Cleve Hill solar-plus-storage project.
  • Additionally, Cellnex and Elawan Energy closed a 200MW solar and wind deal in Spain, and Saint-Gobain signed a 146MW PPA with TotalEnergies in France.
  • Microsoft also marked its first Italian PPAs amid growing demand from the tech sector.
  • Pexapark’s EURO Composite ended October at €49.24/MWh, around 1.7% down month-on-month – in line with the trend estimated by MNI in Oct.

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The EU PPA market recorded 29 deals in October 2024, a notable 26% increase month-on-month in deal count, but year-to-date figures remain subdued, with 12.8GW recorded compared to 14.9GW by the same time in 2023, according to Pexapark today.

  • October's total PPA volumes reached around 1.23GW, marking a 14.7% decline year-on-year, however, a 19% gain on the month. The average deal size dropped to 56MW so far in 2024, down from 73MW in 2023.
  • Solar continued to lead the market, driven by Iberian activity, while Germany’s PPAs included significant allocations for green hydrogen production.
  • Tesco signed the UK’s largest solar PPA, securing 242MW from the Cleve Hill solar-plus-storage project.
  • Additionally, Cellnex and Elawan Energy closed a 200MW solar and wind deal in Spain, and Saint-Gobain signed a 146MW PPA with TotalEnergies in France.
  • Microsoft also marked its first Italian PPAs amid growing demand from the tech sector.
  • Pexapark’s EURO Composite ended October at €49.24/MWh, around 1.7% down month-on-month – in line with the trend estimated by MNI in Oct.