Pexapark records 9.8% jump in European PPA prices for March


Pexapark recorded a jump in European PPA prices in March, marking the first monthly increase since August 2023.

It said all tracked PPA prices increased 9.8% month on month to €47.40 ($50.95)/MWh in March. The consultancy attributed the rise to the upward trajectory of power and commodity prices.

Most PPA prices have been rising in line with power and gas price movements, which have spiked in response to attacks on Ukrainian gas infrastructure. Great Britain experienced the largest increase in PPA prices, which shows that market participants have reduced their risk discounts in pricing,according to Pexapark.

Pexapark recorded 18 PPAs totaling 718 MW in March, with solar emerging as the leading technology, accounting for 398 MW across nine deals. Although the total is a 76% decline in PPA volumes compared to February, Pexapark sounded caution, due to “unprecedented flashy numbers” last month.

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Corporates accounted for 94% of deals in March. The largest agreement was signed in Greece between Karatzis Group and Mytilineos, for 210 MW of a 262 MW solar asset. It was followed by a 197 MW PPA across two PV assets in Spain.

Great Britain led the way in March in terms of deal count and volume, with four agreements totaling 211 MW. France and Italy jointly placed second on deal count, with three each, while Spain came second in volumes, with 209 MW.

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