Pexapark records 10 BESS-linked PPAs in Europe in January

Pexapark recorded the signing of 12 power purchase agreements (PPAs) in Europe in January, totalling 724 MW of contracted capacity – roughly half the volume and number of transactions registered in December (1.4 GW across 24 deals). While overall activity slowed across the region, Spain stood out for its price performance, reinforcing its position as one of Europe’s most dynamic markets.

Of the 12 PPAs signed during the month, seven were linked to already operational assets, underscoring the growing preference for existing projects over greenfield developments. Only one agreement involved a utility as the buyer, with the remainder signed by corporate offtakers. The largest transaction was a 300 MW solar PPA in Italy between Capital Dynamics and an undisclosed corporate buyer.

In pricing terms, Pexapark’s PPA Index closed January at €45.60/MWh, marking a 2% month-on-month increase. Spain recorded the strongest rise in Europe, with prices up 12.3%, supported by a 4% increase in Iberian power futures. Notable gains were also observed in the Nordics (+10.5%), Portugal (+8%), Germany (+5.9%), and the Netherlands (+2.5%), while France posted the steepest decline (-7.3%).

In parallel, Pexapark identified 10 commercial agreements related to battery energy storage systems (BESS) announced in Europe in January, representing a combined capacity of 934 MW – one more than in December. Although no storage deals were recorded in Spain during the month, activity across Europe – with two agreements each in France, Germany, the United Kingdom and Poland – points to a rapidly evolving storage market. Among the most notable transactions was a 250 MW/500 MWh physical tolling agreement in the United Kingdom between Drax and Fidra Energy, highlighting the increasing sophistication of storage contracting structures.

From pv magazine Spain