European developers signed 23 PPAs totaling 944 MW in June, according to the latest report from Pexapark.
The monthly total represents a 28% reduction in deal count from May and a 36% decrease in terms of volumes. But it does represent stronger performance than in June 2023, when 23 PPAs were signed for a total of 698 MW.
Tracked PPA prices reached €50.10 ($54.28)/MWh in June – a 1.5% month-on-month decrease. Pexapark attributed the reversal of the previous month’s gains to European power prices retreating and small gains in gas prices.
PPA prices decreased month on month in France, Great Britain, Germany, Italy, the Netherlands, the Nordics, Poland, Portugal and Spain, with the largest declines in Great Britain (3.2%), Italy (2.7%) and the Netherlands (2.2%).
Pexapark said that for the first time ever, there were no utility PPAs in the month’s deal flow.
“Nonetheless, as corporate appetite becomes more nuanced, we did observe some more unusual offtakers, highlighting the spread of PPAs from large corporates to more niche segments,” said Pexapark.
The two largest deals in June both involved Microsoft. The first was a 230 MW deal with Repsol in Spain for six 12-year virtual PPAs tied to three solar plants and three wind farms. The second was a 180 MW deal for onshore wind and solar in Sweden and Denmark with European Energy.
The third largest deal was a 139 MW solar PPA between French railway operator SNCF and Neoen. This marked SNCF’s tenth deal, making it one of the biggest PPA buyers in the European transportation sector.
Meanwhile, Bridlington Town AFC, a football club in northeast England, signed an eight-year on-site PPA. Power at the club will be generated by 700 solar panels on the stadium roof, totaling 180 kW, in what Pexapark called the first PPA signed by a football club in Europe.
“The PPA’s size makes this deal one of the smallest we have seen so far and further underlines that PPAs are no longer for big and experienced players with very high consumption only,” said Pexpark. “Even at this size, the club will save an estimated GBP 42,000 ($54,200) per year.”
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