This translates into approx. 100 GW of renewable capacity that might not be built, and therefore, may not be contracted under PPAs or secured through auctions. The downside risk is even greater if we factor in the ambitious assumption of an additional 79 TWh in demand for green hydrogen.

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Ah, the essential info was missing; European PPA markets overall

There’s a lot to unpack here. Most importantly: why is demand falling, and what’s next for PPAs

Innovative deal structures are on the rise: Over 2.8 GW of capacity leveraged hybrid approaches such as solar-wind PPAs, multi-buyer/portfolio setups, and cross-border agreements, enabling greater flexibility and risk-sharing.

More deals, but smaller sizes: The number of transactions grew by 16% (+37 deals), even as total volumes dropped.

Key takeaways: Corporate PPA demand remains steady:

Only a 1% decrease, with 10.9 GW contracted between Jan–Oct 2024.

While total volumes have declined (-13%) - a first in the history of the PPA market! - a clear trend has emerged: at least 1 in 5 PPAs involved hybrid, multi-buyer, or cross-border structures. And it’s likely that many of the closed deals also include zero-price clauses.

And Itamar says Hello. Many of our best chats come from that ex-BNEF talent :)

with the deployment of BESS negative prices will diminish for sure

Thanks Nat! That was around early November, since then not much happened. We will have a fully updated versioin in our upcoming Market Outlook in Jan 2025