European renewable energy contracts hit 16.2 GW volume

According to the ‘European PPA Market Outlook’ report by Pexapark, the European PPA market experienced exceptional growth in 2023. Disclosed contracted volumes reached 16.2 GW, a notable 40% increase from 2022. The year also saw 272 PPAs signed, marking a 65% rise from the previous year. This surge reflects both the rising engagement of large buyers and the entry of small and medium-sized enterprises into the market. The increase in deal count highlights strong market demand for PPAs, driven by the need to manage price volatility and meet ESG targets. The report credits this growth to a stable regulatory environment and falling power and gas futures prices, which have strengthened buyer confidence in long-term commitments.