Pexapark records 29 European PPAs for 1,227 MW in October
European developers signed 29 PPAs for 1,227 MW in October, according to the latest report from Pexapark.
The result is a 20% increase in disclosed volumes compared to September and a 26% gain in deal count. This makes October the fourth-strongest month of the year in terms of volumes and third by deal count so far.
Tracked PPA prices reached €49.24 ($51.78)/MWh, a 1.7% month-on-month decrease. Great Britain saw the largest change, a 6% drop month-on-month, but Pexapark also noted PPA price decreases in France, Germany, Italy, the Netherlands, the Nordic countries, and Poland.
Portugal and Spain were the exceptions, with tracked PPA prices increasing by 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 accounts for 242 MW of a 373 MW solar-plus-storage project in Cleve Hill, Kent. It marks Great Britain’s largest solar offtake and Tesco’s largest PPA to date.
It was followed by a 200 MW PPA in Spain, across one onshore wind and three solar projects, between telecoms corporate 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 across the first 10 months of this year stands at 12.8 GW, down from 14.9 GW across the same time period of 2023. However, deal count is higher than in 2023, indicating more deals of smaller volumes.
“The average PPA size year to date has decreased from 73 MW in 2023 to 56 MW in 2024,” said Pexapark. “This comes down to fewer very large PPAs announced this year but more companies with smaller appetite for volumes.”
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