Developers signed 36 long-term PPAs in Europe in October – a notable increase from the 17 closed in September and the nine announced in August, according to Swiss consulting firm Pexapark. This brings the year's total PPA count to 218.

The 36 deals secured in October have a combined capacity of 1.6 GW.

Pexapark also revealed that average PPA prices across different technologies and geographies dropped by an average of 1. 9% to end the month at €54.0 ($59.10)/MWh.

The largest monthly decline was registered in France at 6.8%, as forecasts of greater nuclear availability coincide with lower demand for electricity. France was followed by the Netherlands, where food prices fell by 5.2%. Meanwhile, both Portugal and Spain recorded a slight increase in PPA prices, with 2.3% and 2.4% respectively.

The month's biggest deal comes from Ireland, where Highfield Solar signed a 276 MW solar PPA with Meta, Facebook's parent company.

Pexapark also revealed that Germany's wind resources are being reoriented towards the production of green hydrogen, as two of the four PPAs announced this month have this purpose.

Lyhfe also signed its third PPA to power its green hydrogen and ammonia plants in France. One of the first PPAs financed by the Renewable Electricity Guarantee Fund was also announced in the country.

The Swiss consulting firm said that Italy has 2.08 GW of PPAs were closed in Italy across 43 deals.