European renewable power purchase agreement (PPA) prices have increased by 51% in the third quarter compared to the same period last year.
That’s according to a new report by LevelTen Energy which suggests that PPA prices surged 11% quarter over quarter.
Analysing more than 4,000 wind and solar pricing offers listed across 21 countries in Europe and North America, the report found that solar PPA prices rose almost twice as much as wind prices.
Solar prices rose 15.4% to €68.57 (£59.6) per MWh, while wind P25 PPA prices increased by 8% to €78.50 (£68.2) per MWh.
Flemming Sørensen, Vice President, Europe, LevelTen Energy, said: “Corporations can use PPAs to stabilise their energy costs, meet their emissions reduction targets and demonstrate their commitment to sustainability and energy independence.
“That’s why despite higher PPA prices, we’re still seeing strong demand for PPAs.”
