European developers signed 12 PPAs totaling 232 MW in May, according to the latest report from Swiss renewables research firm Pexapark. The result is a marked slowdown compared to April, representing a 81% decrease in volumes month on month and a 45% drop in deal count.
Pexapark said that May’s 232 MW in European PPAs marked the lowest monthly volume since 2020, with deal count falling to levels last seen in 2022. Solar dominated activity, accounting for 174 MW across nine deals.
The largest PPA in May was signed between EDF Renewables and Network Rail, the owner of most of Great Britain’s railway network. The deal covers 64 GWh per year in offtake, equivalent to an estimated 65 MW, and will supply around 15% of the electricity consumed by Network Rail’s offices, depots and stations.
Pexapark said that average tracked PPA prices rose 1.2% month on month to €49.40 ($56.94)/MWh, following two consecutive months of price corrections.
Poland recorded the highest price increase at 4.6%, followed by Great Britain (3.5%) and the Nordics (3%). Prices also rose in Germany, Italy, the Netherlands, Portugal and Spain. France was the only market tracked where PPA prices declined, falling 1.3% month on month.
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