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In 2019, interest in subsidy-free power purchase agreements (PPAs) for photovoltaic and wind farms in Europe really caught the eye
.
According to a report published by German consulting firm Enervis Energy Advisors, Europe developed a pipeline of 21 GW of renewable energy projects without subsidies by the end of 2019
, according to an analysis of data from 25 countries.
According to Enervis, Spain continues to lead the way, announcing 4.
39 GW of subsidy-free PPA projects
in 2019.
Italy followed with 1.
91 GW, ahead of Germany (1.
05 GW).
At the same time, demand also increased
in Portugal (444 MW), Denmark (338 MW) and France (158 MW).
Enervis predicts that despite some obstacles, the southern European market will remain fertile ground
for subsidy-free solar PPAs.
For wind farms (onshore and offshore), northern and northwestern Europe remain the focus
.
Although the EU's historic wholesale electricity price hike stopped last year and plummeted during the Covid-19 shutdown, Enervis noted that electricity generation prices for solar and wind could be 20 euros/MW
below market prices.
According to Enervis, the coal removal plans announced by some European countries are expected to support wholesale energy prices in the medium term, so increasingly cheaper solar and wind projects will continue to make subsidy-free PPAs an attractive option
.
The report notes that even in the face of a 39% year-on-year decline in natural gas prices in 2019, the renewable energy business case will stand firm
.
These rates are likely to rise as renewables penetrate deeper into Europe's grid, and fluctuations in fossil fuel generation prices are unpredictable variables that can be offset
by higher CO2 prices.
In 2019, interest in subsidy-free power purchase agreements (PPAs) for photovoltaic and wind farms in Europe really caught the eye
.
According to a report published by German consulting firm Enervis Energy Advisors, Europe developed a pipeline of 21 GW of renewable energy projects without subsidies by the end of 2019
, according to an analysis of data from 25 countries.
According to Enervis, Spain continues to lead the way, announcing 4.
39 GW of subsidy-free PPA projects
in 2019.
Italy followed with 1.
91 GW, ahead of Germany (1.
05 GW).
At the same time, demand also increased
in Portugal (444 MW), Denmark (338 MW) and France (158 MW).
Enervis predicts that despite some obstacles, the southern European market will remain fertile ground
for subsidy-free solar PPAs.
For wind farms (onshore and offshore), northern and northwestern Europe remain the focus
.
Although the EU's historic wholesale electricity price hike stopped last year and plummeted during the Covid-19 shutdown, Enervis noted that electricity generation prices for solar and wind could be 20 euros/MW
below market prices.
According to Enervis, the coal removal plans announced by some European countries are expected to support wholesale energy prices in the medium term, so increasingly cheaper solar and wind projects will continue to make subsidy-free PPAs an attractive option
.
The report notes that even in the face of a 39% year-on-year decline in natural gas prices in 2019, the renewable energy business case will stand firm
.
These rates are likely to rise as renewables penetrate deeper into Europe's grid, and fluctuations in fossil fuel generation prices are unpredictable variables that can be offset
by higher CO2 prices.
