Since the beginning of the year, European corporate renewable energy buyers have signed 1.8 GW of multi-technology Power Purchase Agreements (PPAs). This includes PPAs which combine the energy generation technologies of wind and solar, renewables portfolio PPAs and hybrid technology PPAs. The 1.8 GW contracted in 2024 so far are double the capacity of combined PPAs signed over the same period in 2023 and mark a new all-time record for capacity contracted under these categories of PPAs.

PPAs which combine solar and wind generation offer various benefits. Solar and wind have complementary generation profiles. Solar is typically generating most electricity during day-time in spring, summer and autumn. Wind energy, in contrast, typically generates most electricity in autumn, winter and spring. Wind energy is also complementary to solar power in its ability to generate electricity overnight. Combining renewables plus storage or benefiting from a renewables portfolio with hydro are additional approaches which allow corporate electricity buyers to cover their power demand more steadily with 100% renewable electricity. It also supports the system integration of renewables.

The popularity of multi-technology PPAs is likely to increase further, as buyers and sellers get more experienced with this procurement tool.