EU PPA Market Shines with 7.8 GW of New RE Contracts To Date

EU Renewables PPA Market Shines with 7.8 GW of New Renewable Energy Contracts To Date

RE-Source Platform, a corporate renewable energy platform for energy buyers and suppliers, has made significant observations about the rising volumes of corporate PPAs signed for renewable energy in the EU. The Platform has made the following observations and recommendations to facilitate PPAs-

• Record-breaking year in the EU PPA market with companies procuring 7.8 GW of new renewable energy contracts to date.
• To maximize PPA market potential, energy buyers call on policymakers to use the EU’s Electricity Market Design (EMD) to rapidly remove persisting regulatory barriers to PPAs and deliver the certainty needed to support European businesses’ net zero and energy security goals.
• The ongoing EU negotiations on the EMD reform must ensure a swift end to overzealous emergency interventions in the electricity market, make it easier to unlock corporate PPAs, and protect all routes to market for renewable projects.

EMD: Eliminating Regulatory Barriers to Accelerate Renewables Deployment

The phase-out of unhelpful revenue caps in many countries will usher a brighter future for PPAs.

The report states that if Europe wants to see the PPA market growth to continue and for industry to unlock even greater levels of green energy, the remaining barriers need to be removed. Alongside this, the report finds a critical need to ensure regulatory certainty with the end-to-market caps that corporate energy buyers are calling for:

October Solar Additions Equal To Full 2022 As Europe’s Solar Romance Blooms

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• More renewables: reliable grid access and faster permitting for new wind and solar farms. A stable, investor-friendly environment and full implementation of all EU legislation are critical
• Reduced risk: Support to manage price risk and prove bankability.
• Education: Support to demystify PPAs and educate procurement staff in companies.

The EU has set a target to achieve a share of up to 45% of renewable energy by 2030.