Photovoltaics: Greece 5th in PPAs in Europe

Greece climbed to the 5th spot regarding long-term bilateral contracts for the supply of renewable energy (PPAs) in the European market.

A PPA (power purchase agreement), or electricity power agreement, is a long-term contract between an electricity generator and a customer, usually a utility, government, or company.

According to the annual report by Pexapark, a leading analysis and consulting firm in PPAs, bilateral contracts between renewable energy producers (mainly photovoltaics) and large consumers in Europe accounted for 16.2 GW, a record and a 40% increase compared to 2022.

The number of PPAs skyrocketed to 272, marking an impressive 62% increase in 2023 compared to 2022.

Greece ranks among the top five countries in PPAs based on the size of its electricity capacity, with our country and Portugal entering the top ten in Europe for the first time, as highlighted in the report.

In 2023, bilateral contracts accounted for 0.95 GW and 9 deals were made for PPAs. Spain led the ranking with 4.6 GW and 46 PPAs, followed by Germany with 3.7 GW and 41 PPAs in second place, Italy with 1 GW and 24 PPAs in third place, and the United Kingdom with 0.96 GW and 23 PPAs in fourth place, with a slight difference compared to Greece.

The report notes that Amazon is one of the largest buyers of green electricity in Europe, while the top 10 buyers in Europe include Shell Energy with 654 MW, 12 industries, and one municipal utility company. Notably, the Greek company, Mytilineos, which has entered into a bilateral long-term power contract for 411 MW, holds 8th place.