Unpacking the 5 Key Trends That Paint the Full Picture of Europe’s PPA & BESS Offtake Markets
Welcome back to The Pexapark Podcast! In this episode, we look at what shaped offtake in H1 2025. Wind remains under pressure – Europe is busy renegotiating old projects rather than launching new ones. Romania’s CfD round saw solar overshoot targets at ~€41.7/MWh, while wind missed volumes and pushed prices higher. In northern Sweden, oversupply has driven prices into the teens and forced curtailments, while Spain is fast-tracking co-located batteries after April’s blackout, though spreads remain too tight to add much PPA value. Meanwhile, the EU has introduced a new industrial support scheme to cut heavy-industry power costs in exchange for reinvestment into decarbonisation. And with PPA indices now just under €50/MWh, mark-to-market practices are quickly becoming the norm.In the second half, Dominique Hischier – VP - Analysis & Editorial at Pexapark joins us to break down the numbers:Volumes down 26% YoY, with the biggest hit in wind and multi-tech PPAs.Solar stays resilient, especially in Italy, while Germany slumps ~84% on cannibalisation and negative prices.Utilities return as pricing comes closer to fair value and appetite for risk grows.Corporates more cautious, less willing to pay “green at any cost” and wary of negative-price risk.BESS booming, with activity spreading across Europe, longer durations, and first hybrid deals shifting output into higher-value hours.Analysis notes:Why PPA Buyers and Sellers Turn to Mark-to-Market Valuations for Their DealsUnpacking H1 Deal Flow: 5 Key TrendsUnlock More PPA Market InsightsRegister for your free Pexapark account to stay updated on the latest energy transition trends. Learn more >
--------
37:46
--------
37:46
PJM in Flux: Capacity Price Spikes, Renewables & How The World’s Largest Power Market Works
Welcome back to The Pexapark Podcast! In the first part of the episode, we unpack what’s been moving the renewable energy markets over the past weeks. From the sweeping impact of the “Big Beautiful Bill” reshaping U.S. clean energy, to PJM’s latest capacity auction price spikes, we explore how policy shifts and market dynamics are changing the trajectory of long-term renewables. Our deal tracker reveals surging utility PPA volumes, with Italy and Spain leading the way, while Poland firmly joins Europe’s front-rank of offtake markets – this time with its first landmark BESS transactions. We also touch on Germany’s stalled offshore wind auctions, the rise of storage-backed solar smoothing intraday volatility, and how even small shifts in generation timing can dramatically reduce negative price hours.In the second part of the episode, Yaniv Jaffe, Senior Product Manager at Pexapark joins us for a deep dive into what makes PJM tick. Enjoy a discussion on themes including:PJM’s scale and unique multi-state market designThe growing influence of data center demand on load forecastsWhy the capacity market has become so valuable (and politically sensitive)How renewable capture factors and REC prices stack up against ERCOT and CAISOInterconnection queue bottlenecks and their impact on project build-outRevenue stacking opportunities for wind, solar, and storage in PJMLessons PJM can take from ERCOT’s volatility and California’s renewable penetrationWhat investors, developers, and off-takers should watch most closely in PJM going forwardUnlock More PPA Market InsightsRegister for your free Pexapark account to stay updated on the latest energy transition trends. Learn more >
--------
38:56
--------
38:56
From Data to Benchmarks: How Price Reporting Shapes Markets
Welcome back to The Pexapark Podcast! In the first part of the episode, we dive into recent developments shaping the renewable energy landscape, starting with the European Commission’s long-awaited assessment of the Guarantees of Origin (GoO) market. Hot topics include record-setting results from PJM’s latest capacity auction, implications of hyperscaler-driven demand, and the UK’s Allocation Round 7 for CfDs—and what all of this means for PPA pricing dynamics. We wrap up this section with a compelling look into why hyperscalers like Google are paying over $100/MWh for power—even as forward markets sit near $50—and what that tells us about today’s bifurcated energy markets.In the second part of the episode, Owain Johnson – Global Head of Research at CME Group and author of Price Reporters – joins us to unpack how price benchmarks are made and why they matter so much to renewable energy markets. Enjoy a discussion on themes including:How commodity price benchmarks are created—and what it takes for them to gain market trustWhy benchmarks are critical for unlocking finance, risk management, and scale in energy marketsThe journey from price reporting to industry-wide adoption and financializationWhat we can learn from benchmark journeys in emerging energy commodities like lithium, ethanol, and weather derivativesCase studies on benchmarks in energy transition commodities—like ethanol, lithium, and even temperature indicesAI’s role in enhancing price discovery and transparency—while preserving the irreplaceable human touch Unlock More PPA Market InsightsRegister for your free Pexapark account to stay updated on the latest energy transition trends. Learn more >
--------
43:56
--------
43:56
From Electrons to Intelligence: How Crusoe Powers AI with Modular, 24/7 Energy
Welcome back to The Pexapark Podcast! In the first part of the episode, we unpack Europe’s latest regulatory moves, starting with Italy’s FER-X auction, which drew over 20 GW in bids – double its cap – signaling a shift to a more mature offtake market. In Germany, BESS deal activity remains strong despite a court-backed BKZ grid levy. Meanwhile, the UK delivers long-awaited clarity: CfD tenors extended to 20 years and zonal pricing officially ruled out.In the second part of the episode, Forrest Carroll – Energy & Infrastructure Lead at Crusoe – joins us to unpack how AI infrastructure is reshaping energy procurement. From modular compute units to megawatt-scale data center builds, Forrest shares a first-hand view into how power strategy meets AI ambition. Enjoy a discussion on themes including:What it means to be a vertically integrated AI/data center operatorModular compute unit sizing and client types (hyperscalers, enterprise AI)Power procurement strategy: site selection, contract structuring, energy mixUse of PPAs, hedges, batteries, and carbon tracking mechanismsDemand flexibility and whether full utilization leaves room for rampingWhat energy developers and utilities should better understand about data center needsUnlock More PPA Market InsightsRegister for your free Pexapark account to stay updated on the latest energy transition trends. Learn more >
--------
39:58
--------
39:58
Charged up: The rise of Europe’s BESS offtake market
Welcome back to The Pexapark Podcast! In the first part of the episode, we review the main headlines from across the pond, spotlighting PJM’s proposed revised rules for renewables participation in its capacity markets, all while the passage of the “Big Beautiful Bill” already impacts PPA deal-making in the country. More topics include Germany’s latest EEG onshore wind and solar-plus-storage innovation auctions. In the second part, Apostolis Valassas – Lead BESS Analyst at Pexapark, takes us for an intense ride on all things BESS offtakes in Europe. Deal flow in 2025 has evolved remarkably, and all eyes are on how players are capitalizing on the rapidly emerging opportunities. Enjoy a discussion on themes including: From merchant to tolling: The evolution of contractual structures, pros and consTrends on tolling agreements: Portfolio-based tolls and longer tenorsGeographical nuances: The usual suspects and the emerging heroes Case studies of how regulators and grid operators are managing the hot topic of grid charges Outlook: Floors or tolls? Unlock More PPA Market InsightsRegister for your free Pexapark account to stay updated on the latest energy transition trends. Learn more >
Welcome to The Pexapark Podcast, your fortnightly edit of impactful intelligence in renewable energy, Power Purchase Agreements (PPA) and beyond. Every two weeks, our COO & Co-Founder Luca Pedretti kicks off with key market, regulatory, pricing and deal making updates in Europe and North America.In the second part, he’s hosting an in-depth conversation with an industry expert, discussing candid perspectives on the critical trends shaping our sector. For more insights, register for a free Pexapark account here: https://go.pexapark.com/podcasts
España