German renewables PPA market volume quadrupled in 2023

Facebook
Twitter
LinkedIn
Reddit
Email
Move On Energy has powered Europe's largest solar PV plant.
The Witznitz Energy Park (pictured above), Europe’s largest solar PV park, secured a 600MW PPA with oil giant Shell in September 2023. Image: Move On Energy via LinkedIn.

Renewable power purchase agreements (PPAs) market volumes in Germany nearly quadrupled in 2023, increasing by 323% over 2022, according to the German Energy Agency (dena).

Between 2019 and 2022, the combined capacity for offtake between the different technologies reached a maximum of 1.1GW in 2021 and decreased to 0.9GW in 2022, while in 2023 it registered 3.6GW of capacity. Number-wise, PPAs nearly doubled year-on-year, with 42 PPAs signed in 2023 versus 23 in 2022.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Nearly half of the volume registered in 2023 came from solar PV with 1.8GW and a high interest from customers in securing solar PPAs.

Among the largest offtake agreements signed in 2023, was a 600MW PPA between oil giant Shell and German real estate company Hansainvest Real Assets. The project recently started commercial operations and is currently the largest European solar PV park online.

In 2023, Germany represented the second-largest PPA market in Europe after Spain.

Corporate PPAs – 33 CPPAs for 9 utility PPAs – have been the main driver for the market growth, due to the Corporate Sustainability Reporting Directive (CSRD) coming into force in January 2023. The CSRD increased the number of companies in Germany – from 500 to 15,000 – who were required to report on environmental, social and governance aspects (ESG) and increased the pressure to find solutions to decarbonise their operations.

In terms of sectors, information technology – in particular data centres – has led CPPAs with nearly 30% of the total, followed by raw materials and telecommunications. The top three alone accounted for over half of the PPA volume of offtakes last year in Germany.

According to the report, the structure of solar PPAs signed in 2023 often had a 10-year term and a pay-as-produced (PaP) structure.

Corinna Enders, chairwoman of the Board of Directors at dena, said: “The figures impressively show the importance of PPA for price hedging and for building sustainable business models. PPAs must also play an important role in the future electricity market in order to further stimulate the competitive expansion of renewable energy. A reliable political framework for PPA’s business development is of central importance.”

Germany’s increased appetite for PPAs in 2023, and in particular solar PV ones, relates to the growth of solar PPAs inked in Europe last year. Solar offtakes more than doubled in 2023 compared to 2022, from 4.6GW to 10.6GW.

European solar offtake agreements passed 10GW of capacity in 2023. Chart: JP Casey for PV Tech.

Read Next

September 17, 2025
Struggling Swiss solar manufacturer Meyer Burger has formally entered into a debt moratorium, with the possibility of rescuing the entire group now looking unlikely.
September 12, 2025
German trade association BSW-Solar has called the German government for a simplified, standardised and more digitalised grid access for solar PV and energy storage operators.
September 11, 2025
German renewable energy developer ib vogt has signed a 70MW solar PV virtual power purchase agreement (vPPA) in Romania.
September 10, 2025
A project claimed to be Germany’s largest agriPV plant has been commissioned in the north-east of the country.
September 9, 2025
Iberdrola has signed a 77MW power purchase agreement (PPA) with Italian grocery retail group Selex Gruppo Commerciale.
September 8, 2025
Georgia Power has certified five new solar power purchase agreements (PPAs) within its borders, for a combined capacity of just over 1GW.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA