Pexapark

𝗜𝘀 𝘀𝘁𝗮𝗻𝗱𝗮𝗹𝗼𝗻𝗲 𝘀𝗼𝗹𝗮𝗿 𝘀𝘁𝗶𝗹𝗹 𝗼𝗻 𝘁𝗵𝗲 𝗰𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲 𝗯𝘂𝘆𝗲𝗿'𝘀 𝘀𝗵𝗼𝗽𝗽𝗶𝗻𝗴 𝗹𝗶𝘀𝘁? In 2026, Europe's PPA market showed signs of recovery, with announced capacity stabilizing year-over-year for the first time after consecutive years of decline. But beneath this encouraging shift, some important changes are emerging. Standalone solar PPAs have lost momentum, with announced deals declining by 30% year-over-year. As capture rates come under pressure, the gap between seller expectations and buyer willingness to pay continues to widen. We asked Philipp Schnorr von Carolsfeld, Global Sourcing Manager for Energy at Covestro, who manages a multi-TWh electricity portfolio: 𝘢𝘴 𝘢 𝘤𝘰𝘳𝘱𝘰𝘳𝘢𝘵𝘦 𝘣𝘶𝘺𝘦𝘳, 𝘸𝘩𝘢𝘵'𝘴 𝘺𝘰𝘶𝘳 𝘢𝘱𝘱𝘦𝘵𝘪𝘵𝘦 𝘧𝘰𝘳 𝘴𝘵𝘢𝘯𝘥𝘢𝘭𝘰𝘯𝘦 𝘴𝘰𝘭𝘢𝘳? 📽️ 𝗪𝗮𝘁𝗰𝗵 𝗵𝗶𝘀 𝗮𝗻𝘀𝘄𝗲𝗿 𝗶𝗻 𝘁𝗵𝗲 𝗰𝗹𝗶𝗽 𝗯𝗲𝗹𝗼𝘄. In the full webinar, utility and trading leaders give their view too: • Dario Acquarulo, Executive Committee Member, GEMS (ENGIE) • Kiriakos Tsalkitzidis, Originator, Centrica Energy Moderated by Victoria Souza Leao Santos, PPA Market & Pricing Analyst at Pexapark. 👉 𝗖𝗿𝗲𝗮𝘁𝗲 𝘆𝗼𝘂𝗿 𝗳𝗿𝗲𝗲 𝗣𝗲𝘅𝗮𝗽𝗮𝗿𝗸 𝗮𝗰𝗰𝗼𝘂𝗻𝘁 𝘁𝗼 𝘄𝗮𝘁𝗰𝗵 𝘁𝗵𝗲 𝗳𝘂𝗹𝗹 𝘄𝗲𝗯𝗶𝗻𝗮𝗿 𝗿𝗲𝗰𝗼𝗿𝗱𝗶𝗻𝗴: https://lnkd.in/eG57ATqj And if you're heading to RE-Source 2026 in Amsterdam (November 4–5), join our PPA & BESS Market Insights session to continue the conversation with our experts in person. Co-hosted with the RE-Source Platform

"𝗔𝘀 𝗽𝗿𝗼𝗱𝘂𝗰𝗲𝗱" 𝘀𝗼𝗹𝗮𝗿 𝗶𝘀 𝗮 𝗵𝗮𝗿𝗱 𝘀𝗲𝗹𝗹. 𝗦𝗼 𝘄𝗵𝗼 𝗺𝗮𝗸𝗲𝘀 𝗶𝘁 𝘄𝗼𝗿𝗸 𝗳𝗼𝗿 𝗯𝘂𝘆𝗲𝗿𝘀? Solar output peaks at midday, but corporate demand doesn't follow the sun. As capture rates fall, utilities are closing that gap by building battery flexibility portfolios, which also helps them take on long-term renewable offtake. In our latest Market Recap webinar, Dario Acquarulo (ENGIE) tackles the question: how can utilities turn solar "as produced" into what buyers actually need? 📽️ 𝗪𝗮𝘁𝗰𝗵 𝘁𝗵𝗲 𝗰𝗹𝗶𝗽 𝘁𝗼 𝘀𝗲𝗲 𝗗𝗮𝗿𝗶𝗼'𝘀 𝘃𝗶𝗲𝘄. The full recording covers the rest of the conversation: • Where PPA prices and deal structures are heading across Europe • How BESS FPAs, PPA+ and hybrid revenue models are scaling • How buyers are moving toward risk-managed hybrid portfolios and shaped renewable electricity Dario is joined on the panel by Philipp Schnorr von Carolsfeld (Covestro) and Kiriakos Tsalkitzidis (Centrica Energy), with Pexapark's Victoria Souza Leao Santos moderating. ▶️ 𝗪𝗮𝘁𝗰𝗵 𝘁𝗵𝗲 𝗳𝘂𝗹𝗹 𝘄𝗲𝗯𝗶𝗻𝗮𝗿 𝗳𝗼𝗿 𝗳𝗿𝗲𝗲 𝘄𝗶𝘁𝗵 𝗮 𝗣𝗲𝘅𝗮𝗽𝗮𝗿𝗸 𝗮𝗰𝗰𝗼𝘂𝗻𝘁: https://lnkd.in/eG57ATqj Want to take the discussion further in person? Meet our experts at RE-Source 2026 in Amsterdam, November 4–5. In partnership with the RE-Source Platform.

𝗧𝗵𝗲 𝗣𝗲𝘅𝗮𝗽𝗮𝗿𝗸 𝗕𝗿𝗶𝗲𝗳 | 𝗘𝗱𝗶𝘁𝗶𝗼𝗻 𝟮𝟲 𝗶𝘀 𝗹𝗶𝘃𝗲! Pexapark's EURO Composite rose 5.0% in September, with Great Britain up 10.9% as higher forward power prices fed through to PPA Fair Values. This edition also covers GB's BM reform proposals, ERCOT solar PPA offers, Poland's connection queue clean-up, and Germany's Innovation auction. In this edition: • 𝗠𝗼𝗻𝘁𝗵𝗹𝘆 𝗠𝗮𝗿𝗸𝗲𝘁 𝗖𝗼𝗺𝗺𝗲𝗻𝘁: Pexapark's EURO Composite rose 5.0% in September, led by Great Britain (+10.9%) as gas-driven gains lifted PPA Fair Values, while Iberia was the only region to decline. PPA contracting rebounded to 25 agreements (~1.2 GW) and FPA activity more than doubled to ~2.1 GW, with Q3 2026 a record quarter for hybrid PPAs. • 𝗕𝗘𝗦𝗦 & 𝗣𝗣𝗔 𝗗𝗲𝗮𝗹 𝗧𝗿𝗮𝗰𝗸𝗲𝗿𝘀: Monitor recent BESS and PPA deal activity across key European and US markets. • 𝗟𝗮𝘁𝗲𝘀𝘁 𝗠𝗮𝗿𝗸𝗲𝘁 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀: GB's BM reform proposals remain a key uncertainty for BESS revenues, ERCOT solar PPA offers barely moved despite higher rates, Poland's grid cleared 80% of connection applications after new fees, and Germany's Innovation auction cleared at its lowest recent price as hybrid PPAs take center stage. • 𝗣𝗲𝘅𝗮𝗽𝗮𝗿𝗸 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀: Join Jens Hollstein and Karolina Hartzell on November 12 for our PV + BESS pricing webinar, watch the replay of our European PPA Market Recap, and explore the 2026 Academy Calendar. 💪 𝗚𝗲𝘁 𝗳𝗿𝗲𝗲 𝗮𝗰𝗰𝗲𝘀𝘀 𝘁𝗼 𝗣𝗲𝘅𝗮𝗽𝗮𝗿𝗸 and see the PPA, BESS, and renewable energy market data behind the headlines: https://lnkd.in/eG57ATqj ⬇️ 𝗥𝗲𝗮𝗱 𝘁𝗵𝗲 𝗳𝘂𝗹𝗹 𝗲𝗱𝗶𝘁𝗶𝗼𝗻 𝗼𝗳 𝗧𝗵𝗲 𝗣𝗲𝘅𝗮𝗽𝗮𝗿𝗸 𝗕𝗿𝗶𝗲𝗳

𝗛𝗼𝘄 𝗺𝘂𝗰𝗵 𝘃𝗮𝗹𝘂𝗲 𝗮𝗿𝗲 𝘆𝗼𝘂 𝗹𝗼𝘀𝗶𝗻𝗴 𝗯𝘆 𝗽𝗿𝗶𝗰𝗶𝗻𝗴 𝘀𝗼𝗹𝗮𝗿 𝗮𝗻𝗱 𝘀𝘁𝗼𝗿𝗮𝗴𝗲 𝘀𝗲𝗽𝗮𝗿𝗮𝘁𝗲𝗹𝘆? Solar PPAs are priced with deep discounts for cannibalization and shape risk. BESS tolls and floors carry their own discounts for degradation and uncertain spreads. ☀️🔋 Put them in the same portfolio, though, and they start to offset each other. The battery shifts solar output into higher-value hours, which reduces the very risks both assets are discounted for. So if you price and hedge them separately, you may be leaving significant value on the table. In our upcoming webinar, 𝘗𝘝 + 𝘉𝘌𝘚𝘚 𝘗𝘳𝘪𝘤𝘪𝘯𝘨 𝘋𝘺𝘯𝘢𝘮𝘪𝘤𝘴: 𝘏𝘰𝘸 𝘈𝘴𝘴𝘦𝘵 𝘖𝘸𝘯𝘦𝘳𝘴 𝘊𝘢𝘯 𝘖𝘱𝘵𝘪𝘮𝘪𝘻𝘦 𝘗𝘰𝘳𝘵𝘧𝘰𝘭𝘪𝘰 𝘝𝘢𝘭𝘶𝘦, Pexapark’s Jens Hollstein, VP of Advisory, and Karolina Hartzell, Head of Quant Advisory, will cover: • How PV PPAs and BESS tolls and floors are priced today, and what drives their discounts • How current price dynamics change the value of combining PV and BESS • What this means for hedging a hybrid portfolio 📅 Thursday, 𝗡𝗼𝘃𝗲𝗺𝗯𝗲𝗿 𝟭𝟮, 𝟮𝟬𝟮𝟲 ⏰ 𝟭:𝟬𝟬 𝗣𝗠 𝗕𝗦𝗧 | 𝟮:𝟬𝟬 𝗣𝗠 𝗖𝗘𝗧 👉 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿 𝗻𝗼𝘄 𝘁𝗼 𝘀𝗮𝘃𝗲 𝘆𝗼𝘂𝗿 𝘀𝗽𝗼𝘁: https://lnkd.in/d5g-7ext

𝗧𝗼𝗹𝗹𝗶𝗻𝗴 𝘃𝗼𝗹𝘂𝗺𝗲𝘀 𝘀𝘂𝗿𝗴𝗲 𝗮𝗰𝗿𝗼𝘀𝘀 𝗘𝘂𝗿𝗼𝗽𝗲, 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝗳𝗼𝗿 𝟰𝟬% 𝗼𝗳 𝗙𝗣𝗔𝘀 𝗰𝗼𝗻𝘁𝗿𝗮𝗰𝘁𝗲𝗱 𝘀𝗼 𝗳𝗮𝗿 𝘁𝗵𝗶𝘀 𝘆𝗲𝗮𝗿. GB, Germany and Italy have emerged as Europe’s largest tolling markets. 📽️ In this clip from our Market Recap webinar, Pexapark's PPA Market & Pricing Analyst Victoria Souza Leao Santos explains what is driving tolling activity in GB: • Asset owners want more revenue certainty. Merchant revenues are lower year on year, even with higher volatility. That makes long-term contracts more attractive. • More buyers and utilities are entering the space, making pricing more competitive for newer structures like tolls • Across Europe, Flexibility Purchase Agreements have become the dominant route to market for battery assets This is just one of the shifts we unpacked. In the full session, Victoria walks through the latest findings from our European PPA & BESS market report, followed by a panel with Covestro, ENGIE, Centrica Energy and RE-Source Platform on how buyers, utilities and traders are adapting their strategies for 2027. 📢 𝘔𝘢𝘳𝘬𝘦𝘵 𝘙𝘦𝘤𝘢𝘱: 𝘌𝘶𝘳𝘰𝘱𝘦𝘢𝘯 𝘗𝘗𝘈 𝘔𝘢𝘳𝘬𝘦𝘵 𝘙𝘦𝘣𝘢𝘭𝘢𝘯𝘤𝘦𝘴 𝘢𝘴 𝘍𝘭𝘦𝘹𝘪𝘣𝘪𝘭𝘪𝘵𝘺 𝘖𝘧𝘧𝘵𝘢𝘬𝘦 𝘈𝘤𝘤𝘦𝘭𝘦𝘳𝘢𝘵𝘦𝘴 ▶️ 𝗪𝗮𝘁𝗰𝗵 𝘁𝗵𝗲 𝗳𝘂𝗹𝗹 𝘄𝗲𝗯𝗶𝗻𝗮𝗿 𝗼𝗻 𝗱𝗲𝗺𝗮𝗻𝗱: 𝗰𝗿𝗲𝗮𝘁𝗲 𝘆𝗼𝘂𝗿 𝗳𝗿𝗲𝗲 𝗣𝗲𝘅𝗮𝗽𝗮𝗿𝗸 𝗮𝗰𝗰𝗼𝘂𝗻𝘁 𝗵𝗲𝗿𝗲 👉 https://lnkd.in/eG57ATqj

𝗪𝗵𝗮𝘁'𝘀 𝗮𝗰𝘁𝘂𝗮𝗹𝗹𝘆 𝘀𝘁𝗼𝗽𝗽𝗶𝗻𝗴 𝗰𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲𝘀 𝗳𝗿𝗼𝗺 𝘀𝗶𝗴𝗻𝗶𝗻𝗴 𝗣𝗣𝗔𝘀 𝗿𝗶𝗴𝗵𝘁 𝗻𝗼𝘄? 📢 Join us on 𝗧𝘂𝗲𝘀𝗱𝗮𝘆, 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟮𝟵 for 𝘔𝘢𝘳𝘬𝘦𝘵 𝘙𝘦𝘤𝘢𝘱: 𝘌𝘶𝘳𝘰𝘱𝘦𝘢𝘯 𝘗𝘗𝘈 𝘔𝘢𝘳𝘬𝘦𝘵 𝘙𝘦𝘣𝘢𝘭𝘢𝘯𝘤𝘦𝘴 𝘢𝘴 𝘍𝘭𝘦𝘹𝘪𝘣𝘪𝘭𝘪𝘵𝘺 𝘖𝘧𝘧𝘵𝘢𝘬𝘦 𝘈𝘤𝘤𝘦𝘭𝘦𝘳𝘢𝘵𝘦𝘴. Pexapark market expert Victoria Souza Leao Santos will unpack the findings from our latest analysis of the European PPA market – revealing the trends reshaping corporate procurement, PPA activity and flexibility offtake. 🎙️ Then we'll take those insights directly to experienced market participants from Covestro, ENGIE and Centrica Energy. Hear how leading corporate buyers, utilities and traders are responding to what they're seeing in the market, what's influencing their decisions today, and how their strategies are evolving as we head towards 2027. It's an opportunity to go beyond the market data and hear directly from the people making these decisions about what's changing – and why. 🎤 Speakers: • Victoria Souza Leao Santos, PPA Market & Pricing Analyst, Pexapark • Philipp Schnorr von Carolsfeld, Global Sourcing Manager for Energy, Covestro • Dario Acquarulo, Executive Committee Member, GEMS (ENGIE) • Kiriakos Tsalkitzidis, Originator, Centrica Energy • Anna De Cock, Partnerships Manager, RE-Source Platform 📅 𝗧𝘂𝗲𝘀𝗱𝗮𝘆, 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟮𝟵, 𝟮𝟬𝟮𝟲 🕐 𝟭:𝟬𝟬 𝗣𝗠 𝗕𝗦𝗧 | 𝟮:𝟬𝟬 𝗣𝗠 𝗖𝗘𝗧 👉 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿 𝗻𝗼𝘄 → https://lnkd.in/d76DztxJ