The European renewable energy power market demonstrated a strong recovery in 2024, with nearly 19 gigawatts (GW) of new capacity contracted under purchase agreements, according to Wood Mackenzie.
A surge in PPA activity with Spain and Germany leading the market, accounted for 30% of total capacity across Europe, according to the latest Europe Renewables PPA Tracker report released by Wood Mackenzie. Solar PV and wind projects represented approximately 80% of contracted capacity, with each technology contributing similar volumes. Poland, the UK and Greece entered the top five across all deal types (corporate, route-to-market and utility), Wood Mackenzie said.
According to Eurostat, the official data platform of the European Commission, the share of renewable energy in Europe almost tripled between 2004 and 2023.
The EU reached a 24.5% share of its gross final energy consumption from…
