European power purchase agreement prices for renewable energy have continued to fall this quarter across all markets, according to Altenex Energy.
The EU Power Purchase Agreement Index price, which represents a weighted average of all purchase prices across Europe, decreased by 15% following an ongoing decline in natural gas and electricity prices.
Buyer demand in Europe continues to accelerate in the second quarter of 2023, despite ongoing challenges to the industry.
The number of projects marketed and deals signed in Q1 2023 trended higher than in 2022 and further increased this quarter, according to Altenex Energy’s Q2 Global Renewables Market Update.
Altenex does business in Europe as Altenex Energy and Alfa Energy and in the US as Edison Energy.
European prices continue to fall this quarter across all markets, and buyers may benefit from a wide variety of options across offtake volumes, technologies, price structures and tenors.
Buyers are also getting closer to major corporate sustainability milestones in 2025 and 2030, which will further drive power purchasing activity.
The number of marketed offshore wind projects has increased in Northern and Western Europe.
Altenex said developers are exploring offshore wind opportunities across various geographies in response to ambitious targets being set across Europe.