As reported by Pexapark, European developers signed 23 Power Purchase Agreements (PPAs) totalling 944 MW in June. This figure reflects a 28% reduction in the number of deals and a 36% decrease in volumes compared to May. However, it shows an improvement over June 2023, when 23 PPAs were signed for 698 MW.
The average tracked PPA prices in June were €50.10 ($54.28) per MWh, representing a 1.5% month-on-month decrease. Pexapark attributed this drop to falling European power prices and slight increases in gas prices. PPA prices declined across several countries, with the most significant reductions in Great Britain (3.2%), Italy (2.7%), and the Netherlands (2.2%).
No utility PPAs were recorded in the month's deal flow for the first time. Instead, the market saw a more varied range of corporate off-takers.
The largest PPA deals in June involved Microsoft, which signed a 230 MW deal with Repsol in Spain for six 12-year virtual PPAs linked to three solar plants and three wind farms. Microsoft also entered a 180 MW deal with European Energy for onshore wind and solar projects in Sweden and Denmark.
The third-largest deal was a 139 MW solar PPA between French railway operator SNCF and Neoen. This marked SNCF's tenth deal and solidified its position as a significant PPA buyer in the European transportation sector.
Bridlington Town AFC, a football club in northeast England, also signed an eight-year on-site PPA. The club will generate power from 700 solar panels installed on the stadium roof, totalling 180 kW. This deal, the first PPA signed by a football club in Europe, is notable for its small size. It demonstrates that PPAs are becoming accessible to smaller, less experienced players with lower energy consumption. Through this agreement, the club expects to save approximately GBP 42,000 ($54,200) annually.
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