European developers signed 23 PPAs for 1.03 GW in September, according to the latest report from Pexapark.
Polish PPA prices plunged 7.5%, followed by French and Nordic PPA prices, which dropped 6.6% and 6%, respectively. Pexapark also noted monthly PPA price decreases in Germany, Great Britain, Italy, the Netherlands, Portugal and Spain.
The two largest deals in September came from the Energize Program, a consortium of 24 global pharmaceutical companies. They closed two solar PPAs in Spain.
The first deal involves seven companies and suppliers securing 161.4 MW from three projects developed by Zelestra. In the second, four pharmaceutical firms purchased 118 MW of solar across four projects by Bruc Energy.
The third-largest deal saw Salzgitter offtake 113 MW from Energiekontor's solar portfolio in Germany. Additionally, 25 Danish corporations signed a five-year solar PPA – the largest in Denmark by number of signatories.
Pexapark’s analysis shows 62 deals for 2.7 GW were signed in the third quarter of 2024, compared to 4.1 GW from 57 deals in the third quarter of 2023.
Solar accounted for 71% of deal volumes in the third quarter of 2024, accounting for more than 1.9 GW, and 58% of deal count, equivalent to 36 deals. Spain is responsible for the lion’s share of solar deal flow during this quarter, with around 750 MW across 12 deals, followed by France, Germany and Italy.
The volume of PPAs across the first nine months of 2024 totals 11.4 GW, Pexapark said, compared to 13.2 GW across the first nine months of 2023.
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