Power purchase agreement (PPA) prices for renewable energy in Europe rallied 11.3% in the third quarter to more than EUR 73 euro per MWh, a YoY increase of 51%, according to LevelTen Energy, a PPA market platform operator.
Despite all the challenges on the paths to energy independence from Russia and carbon neutrality, demand for PPAs remains resilient and high as companies can use PPAs to stabilize their energy costs.
LevelTen Energy said its price subindex of solar power prices in 16 European countries in the market for PPAs grew 15.4% to EUR 68.57 per MWh in the third quarter, while wind P25 PPA prices increased by 8% to EUR 78.5 per MWh. However, the year-over-year increases are not that far apart: 53.3% against 49.1%.