European developers signed 27 PPAs for 2.09 GW of capacity in December 2024, according to the latest report from Pexapark.
The result is a 105% increase in disclosed volumes and a 50% increase in deal count compared to November. It makes December the second-strongest month of the last calendar year in terms of volume, surpassed only by February.
The strong performance in December was led by a record-breaking eight utility-scale PPA deals, which Pexapark attributed to the usual year-end rush to close agreements before the start of the new year.
The largest deal of December was by Recurrent Energy, a subsidiary of Canadian Solar, which signed a 300 MW solar PPA for 10 years in Spain with an undisclosed US-based corporate. This is the second-largest solar deal Pexapark recorded in 2024, only exceeded by a 350 MW agreement signed by Carrefour Group in France in July.
The second- and third-largest PPAs of December were wind power deals.
Tracked PPA prices reached €51.76 ($53.89)/MWh in December, a 1.2% uptick from November 2024.
French PPA prices saw the most significant uplift, rising 9% month on month, while Pexapark also identified price increases in the British, Nordic, Portuguese, and Spanish PPA markets. Polish PPA prices fell the most in December, down 3.5%, alongside price declines in the Dutch, German and Italian markets.
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