Europe Signed 8.4GW Power Purchase Agreement
Release Date: 2023-02-20 Visit: 126 Source: TIDE SOLAR INC.

According to an annual survey report released recently by Pexapar, a Swiss consultancy, renewable energy developers signed an 8.4GW electricity purchase agreement (PPA) in Europe in 2022, resulting in a 21% decrease in installed capacity compared to the previous year. However, the company pointed out that the number of 161 transactions signed increased by 4.5% year-on-year, with Spain leading the EU member states.
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In this report, Pexapark pointed out that despite market turmoil, the renewable energy power procurement agreements in Europe in 2022 remained impressive and stable. Although the total installed capacity of the signed agreements decreased to 8.4GW, a decrease of 21% compared to 2021, the number of power procurement agreements increased by 4.5% in 2022 to 161.
In 2022, corporate power procurement agreements signed in Europe accounted for 80% of the total agreed installed capacity and 83% of the total number. The installed capacity of the enterprise power procurement agreement signed in 2022 has increased by more than 20% compared to 5.8GW in 2021.
"Luca Pedretti, Director of Operations at Pexapark, said, 'During the European energy crisis, the maturity of the renewable energy electricity procurement agreement market was shown to be outstanding during the European energy crisis, and this shows that the resistance encountered is significant.'"
Spain was the largest electricity procurement agreement market in Europe in 2022, with 31 agreements signed with an installed capacity of approximately 3.2GW. The agreements signed by Spanish renewable energy developers Greenalia and Endesa account for 20% of the total agreement, exceeding 1.8GW.
The top five corporate buyers are Alcoa (1830MW), Microsoft (900MW), Amazon (420MW), Renault (350MW), and meta (300MW), while the top five sellers are Greenalia (924MW), Endesa (906MW), Statkraft (687MW), Energia Group, and Power Capital Renewable Energy (534MW) and Voltalia (380MW).