European renewables PPA market hit 19 GW in 2024, says Wood Mackenzie

Wood Mackenzie says Europe's power purchase agreement (PPA) market was dominated by solar and wind deals in 2024, with an increase in battery-linked contracts as buyers looked to hedge against negative pricing periods. Nearly 19 GW of renewables were contracted under PPAs in Europe in 2024, according to Wood Mackenzie. The consultancy's "Europe Renewables PPA Tracker Report" says Europe's PPA market surged last year, led by solar and wind projects, which represented 80% of the total contracted capacity. Spain and Germany were the leading European markets, accounting for 30% of total capacity, ...

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