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A guide to Europe’s

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A guide to Europe’s booming PPA marketChristoph Sutter, Head Division Renewables Axpo, & Stéphanie Andrieu, CEO Urbasolar

A guide to Europe’s booming PPA market

© Axpo, A guide to Europe’s booming PPA market

4 808 CHF millionRevenue 2019/2020

826 CHF millionEBIT 2019/2020

Active in

31 Countries

5 350Collaborators

16,6 GWof renewables sold

67 557 millions kWh

delivered

+ 100 years

of expertise

Leading marketorof renewable energies in

Europe

Switzerland's largest producer of renewable energy & international leader inenergy trading

In the Swiss Alps, 2500 m.a.s.l.

… we are building

the largest alpine PV

plant.

only possible thanks

to a 20 year PPA

© Axpo, A guide to Europe’s booming PPA market

0

20

40

60

80

100

120

140

160

180

Jan Feb Mär Apr Mai Jun Jul Aug Sep Okt Nov Dez

Import ImportSufficient supply

Midland Switzerland

Alpine region

MWh/Mwp

AlpineSolar – interesting winter production

© Axpo,

Pioneering project in the Swiss Alps

AlpineSolar PV Muttsee

• 2.2 MW capacity

• 3,3 GWh Production

• 2500 m.a.s.l.

• Enabled by 20 years PPA with Swiss

supermarket chain Denner

50% of the production in the winter half year,

because

• less fog

• Colder temperature >> higher efficiency

• snow reflects sunlight

A guide to Europe’s booming PPA market 8

© Axpo,

A key player in photovoltaics in Europe

A guide to Europe’s booming PPA market

131 M€Turnover 04/2020

280Collaborators

12 GWBuilt by 2030

Presence

in 15 countries

€1 Billion of investments

made

360 000People supplied with

green electricity

Group’s

subsidarysince 2019

+100% Volume of our

activities doubled in

FY2020

© Axpo,

PPA Structuring

A guide to Europe’s booming PPA market

PPA on Site

Sleeved PPA

PPA Price

PPA Electricity + guarantees of origin

PPA Electricity Source : Urbasolar

© Axpo,

PPA Structuring

A guide to Europe’s booming PPA market

Virtual PPA

REFERENCE PRICE

=

MARKET PRICE + CFD PRICE

PPA Electricity

Quarantees of origin

Contract for Difference (CfD)

Market priceSupply of

electricity

Supply price

Source : Urbasolar

© Axpo,

PPA Overview in Europe

EU - Focus on the Renewable Energy Directive (RED II) (end of 2018) :

→ Removing unnecessary regulatory and administrative barriers for CPPA’s by June 2021

→ Recognising Guarantees of Origin issued by other member states by June 2021

→ Allowing issuance and transfer of Guarantees of Origin directly to corporates under a CPPA even if the supplier benefits from a support scheme

A guide to Europe’s booming PPA market

0

1

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3

4

5

6

7

8

9

2013 2014 2015 2016 2017 2018 2019 2020

Tech Industrial Healthcare Retail Oil & Gas Other

7,8

3,02,5

1,11,00,70,30,2

EUROPE - CPPA by type of counterparty – in GW

0

1

2

3

4

5

6

7

8

9

2013 2014 2015 2016 2017 2018 2019 2020

Nordics Spain France UK Poland Netherlands Italy Others

EUROPE - CPPA by country – in GW

7,8

3,02,5

1,11,00,70,30,2

Source : BNEF – La Planète Verte

© Axpo, A guide to Europe’s booming PPA market

GB : 46,85 GPB/MWh

Poland : 47,76 €/MWh

Italy : 42,86 €/MWh

France : 42,60 €/MWh

Germany : 41,61 €/MWh

Spain : 35,63 €/MWh

PPA Overview in Europe

PPA Prices (Solar)

Source : Pexapark – 24/12/2020

© Axpo,

PPA Overview in Europe

A guide to Europe’s booming PPA market

Focus on CPPA in

An attractive market for concluding

PPA’s

• Availabilty of ressources

• Availability and cost of land

• The confidence in the regulatory

environment

• Low plant construction costs

SPAIN ITALY FRANCE

5

20

910

21

1013

21

1116

22

12

1922

13

Spain Italy France

Installed Capacity – SOLAR - GW

2018 2019 2020 2021 e 2022 e

An emerging market

• Electricity production still based on

nuclear

• FIT regime

• Regulation favorable to such

development

An increasing interest for PPA’s

• Trend : Large scale projects

• PPA’s : most short term contracts (5 y)

• New regulation for PPA (PNIEC)

• Ambition to achieve a 55% share of

domestic energy consumption from RES by

2030

Source : BNEF – La Planète Verte / Solarplazza

© Axpo,

Need for standardisation

A guide to Europe’s booming PPA market

Lack of standardisation

Uncertainity

ReticencesSlow down business Increase costs

Benefits of standardisation

• Increase the power of finance (through clarity on process)

• Decrease legal transaction costs

• Increase efficiency and certainity (reduce lenght of

negociation)

© Axpo,

Examples of CPPA signed by Urbasolar

A guide to Europe’s booming PPA market

Groupe ADP* accelerates activity to achieve carbon neutrality by

2030 thanks to green energy produced in France.

CPPA :

• 21 years

• Three new photovoltaic solar parks

• 47 gigawatt-hours per year

• Supply 10% of the electricity required to operate the

three Paris airports

* Paris Airports

© Axpo,

Rehabilitation of industrial site for PPA

Let’s have a look at the video!

A guide to Europe’s booming PPA market

Q&A


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