Wood Mackenzie reports 19 GW renewable PPA deals across Europe in 2024

Wood Mackenzie has found that Spain and Germany drove Europe’s 19 GW renewable PPA rise in 2024, with solar and wind dominating.

By Nandini Yelabaka 17 Apr 2025 in Project Bytes

New Update

Poland, UK and Greece have entered the top five markets for corporate and utility renewable PPAs in 2024. Image Source: Pixabay

European renewable energy PPA contracts has added nearly 19 GW of new capacity in 2024, as reported by Wood Mackenzie. Spain and Germany accounted for 30% of the total volume, with solar PV and wind projects contributing roughly equal shares, together forming 80% of the capacity. Poland, the UK, and Greece ranked among the top five markets across corporate, utility, and route-to-market agreements. Corporate PPAs dominated the market, representing over 70% of deals, with the technology and data sectors being the primary offtakers. The report also observed a growing number of hybrid deals combining renewables with battery storage, aimed at addressing negative pricing and improving power supply reliability. Overall PPA prices declined in 2024 in line with wholesale power prices.

#RenewableCapacity #Europe #PPA #WoodMackenzie

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