The Pexapark Podcast

Welcome back to The Pexapark Podcast! In the first part of the episode, we look at key market shifts: Germany launches a €500m guarantee scheme to revive its stalled PPA market, Italy’s FER-X auction confirms solar’s dominance with many projects now turning to PPAs at €54–60/MWh, and the Netherlands injects €1.2bn to rescue offshore wind. Battery revenues in Europe dipped on weak summer volatility but are already recovering, while the U.S. set a record with 4.9 GW of new storage in one quarter. In the second half, Jens Holstein – EVP Advisory at Pexapark – joins Luca Pedretti to explore the state of co-location. Enjoy a discussion on themes including:Why co-location is becoming the “route to market” for solar as standalone PPAs struggleHybrid PPAs and enhanced profiles: using one battery cycle to shift solar output from noon to evening, lifting capture rates from ~60% to 90%.Market outlook: Germany and the Netherlands lead on volatility-driven value, GB favors separate contracts, while Spain and Italy remain subsidy- and auction-drivenEarly but fast growth: ~3 GW of co-located capacity contracted in 2025 vs 14.5 GW standalone, with two-thirds of new GB solar projects now co-locatedRepowering as the next wave: hybridizing older German wind sites with solar and batteriesUnlock More PPA Market InsightsRegister for your free Pexapark account to stay updated on the latest energy transition trends. Learn more >

Welcome back to The Pexapark Podcast! In the first part of the episode, we dive into a fast-moving month for policy and pricing: the EU’s ETS review and fresh UK CfD momentum, a surprise SDE++ underspend in the Netherlands, and Spain’s storage-first push with generous capex support. We zoom in on market signals: Poland’s PPA landscape with easing risk discounts (notably for onshore wind) versus solar’s capture headwinds; the US split-screen of ERCOT’s storage boom and PJM’s hyperscaler-fueled demand premium; and why surging Nordic balancing costs are rewriting short-term risk and contract structures across Europe.In the second part, Jesús Boccio – Senior Originator at Pexapark – joins us to unpack the state of Spain’s offtake market after this year’s blackout.Enjoy a discussion on themes including:From blackout to blueprint: Operating Procedure 7.4, synthetic inertia, and a fast-track for co-located BESSHybrid PPAs: early Spanish deals and how batteries can lift PPA value profilesNegative prices & balancing: managing exposure as BRP models tighten and costs riseSpain’s buyer lens: fewer deals, smarter structures, and short-tenor hedges as a bridgeOutlook & timing: when Spain’s storage wave could break – and how to be readyUnlock More PPA Market InsightsRegister for your free Pexapark account to stay updated on the latest energy transition trends. Learn more >

Dominique Hischier, VP of Analysis & Editorial at Pexapark, dives deep into the shifting landscape of Europe's PPA and BESS markets. He discusses how wind energy faces challenges while solar, particularly in Italy, remains robust. Hischier highlights the implications of negative pricing, especially in Germany, and the surge in battery storage systems across Europe. The conversation also touches on the EU’s support schemes for heavy industries and the increasing trend towards mark-to-market valuations for agreements.

Welcome back to The Pexapark Podcast! In the first part of the episode, we unpack what’s been moving the renewable energy markets over the past weeks. From the sweeping impact of the “Big Beautiful Bill” reshaping U.S. clean energy, to PJM’s latest capacity auction price spikes, we explore how policy shifts and market dynamics are changing the trajectory of long-term renewables. Our deal tracker reveals surging utility PPA volumes, with Italy and Spain leading the way, while Poland firmly joins Europe’s front-rank of offtake markets – this time with its first landmark BESS transactions. We also touch on Germany’s stalled offshore wind auctions, the rise of storage-backed solar smoothing intraday volatility, and how even small shifts in generation timing can dramatically reduce negative price hours.In the second part of the episode, Yaniv Jaffe, Senior Product Manager at Pexapark joins us for a deep dive into what makes PJM tick. Enjoy a discussion on themes including:PJM’s scale and unique multi-state market designThe growing influence of data center demand on load forecastsWhy the capacity market has become so valuable (and politically sensitive)How renewable capture factors and REC prices stack up against ERCOT and CAISOInterconnection queue bottlenecks and their impact on project build-outRevenue stacking opportunities for wind, solar, and storage in PJMLessons PJM can take from ERCOT’s volatility and California’s renewable penetrationWhat investors, developers, and off-takers should watch most closely in PJM going forwardUnlock More PPA Market InsightsRegister for your free Pexapark account to stay updated on the latest energy transition trends. Learn more >

Owain Johnson, Global Head of Research at CME Group and author of 'Price Reporters,' delves into the mechanics of price benchmarks in renewable energy markets. He explains how benchmarks are created and their importance for finance and risk management. They shape market trust and foster industry-wide adoption, influencing emerging commodities like lithium and ethanol. The conversation also highlights the role of AI in enhancing price discovery, revealing how tech is revolutionizing transparency in energy markets.

Welcome back to The Pexapark Podcast! In the first part of the episode, we unpack Europe’s latest regulatory moves, starting with Italy’s FER-X auction, which drew over 20 GW in bids – double its cap – signaling a shift to a more mature offtake market. In Germany, BESS deal activity remains strong despite a court-backed BKZ grid levy. Meanwhile, the UK delivers long-awaited clarity: CfD tenors extended to 20 years and zonal pricing officially ruled out.In the second part of the episode, Forrest Carroll – Energy & Infrastructure Lead at Crusoe – joins us to unpack how AI infrastructure is reshaping energy procurement. From modular compute units to megawatt-scale data center builds, Forrest shares a first-hand view into how power strategy meets AI ambition. Enjoy a discussion on themes including:What it means to be a vertically integrated AI/data center operatorModular compute unit sizing and client types (hyperscalers, enterprise AI)Power procurement strategy: site selection, contract structuring, energy mixUse of PPAs, hedges, batteries, and carbon tracking mechanismsDemand flexibility and whether full utilization leaves room for rampingWhat energy developers and utilities should better understand about data center needsUnlock More PPA Market InsightsRegister for your free Pexapark account to stay updated on the latest energy transition trends. Learn more >

Apostolis Valassas, Lead BESS Analyst at Pexapark, dives into the booming battery energy storage offtake market in Europe. He discusses the evolution of contract structures, highlighting the shift from merchant agreements to tolling models. The conversation covers key geographical trends, with emerging players like Greece and Bulgaria gaining traction. Apostolis also shares insights on regulatory impacts and the future outlook for energy contracts, emphasizing the balance between financial stability and market dynamism.

Welcome back to The Pexapark Podcast! In the first part of the episode, we reflect on the proposed rollback of the US’ clean energy tax credit scheme for renewables and potential short-term and medium-term impacts. More topics include the latest findings from Pexapark’s intensified BESS insights, including tolling price discovery; the current bid ranges in Germany; BESS financing structures based on revenue and business models and more.In the second part of the episode, Juergen Mayerhofer – CEO and Founder of enspired, BESS and power assets optimiser – discusses the exciting but challenging task of helping an asset owner understand the behaviour of a BESS asset. Enjoy a discussion on themes including: The story behind enspired, entrepreneurial tips and success storiesThe evolution and outlook of the European optimisation marketThe commitment to price transparency and the recipe for trusted revenue benchmarksAre tolling agreements the “PPAs” of BESS?Outlook of revenue models and the possible financing requirements of the future Episode breakdown:00:00- Intro01:16-Regulation04:56-Deals & Prices10:14- Wider Energy World 13:43- Interview with Juergen MayerhoferLinks:AI and renewablesUnlock More PPA Market InsightsRegister for your free Pexapark account to stay updated on the latest energy transition trends. Learn more >

Welcome back to The Pexapark Podcast! In the first part of the episode, we review some turbulent developments in anti-renewables regulation at the US state and federal levels, as well as the evolution of ERCOT’s PPA price assessments following the market’s revised long-term load forecast. More topics include Denmark’s revised offshore wind framework, and the implications of booming solar in Poland, Portugal, Spain and France.  In the second part of the episode, David Battista – Analyst & Price Reporter at Pexapark, sheds light on the particularly dynamic energy transition story of Italy. For years, Italy’s PPA market has been talked about more for its potential than its performance. However, dynamics have shifted significantly due to increased regulatory support and strong buyer interest, all while the country is exhibiting early signs of an epic storage boom. To understand the momentum, enjoy the discussion around: Breakdown of recent PPA activity and main playersThe drivers behind the momentum and the challenges ahead Pricing environment and risks BESS developments and the key regulatory themes investors need to know Links:RenewaFi by Pexapark: Renewables industry fears ugly outcomes from Trump’s “One Big Beautiful Bill”RenewaFi by Pexapark: New net load scenarios: Why supply assumptions matterEnverus analysisUnlock More PPA Market InsightsRegister for your free Pexapark account to stay updated on the latest energy transition trends. Learn more >

Welcome back to The Pexapark Podcast! In the first part of the episode, we review the latest regulatory updates, including Greece’s fast track of 4.7 GW of new standalone merchant BESS and Germany’s consultation on a grid fee reform. More topics include a spotlight on the current play of Virtual PPAs in Europe and lessons from Spain’s April 2025 blackout from a PPA contractual perspective. In the second part of the episode, we invited Mario Schirru – CEO of Encavis AG, to discuss the burning topic of the rise of the next generation Independent Power Producer (IPP). We recently had a widely shared post on LinkedIn about how developers are evolving into full-scale energy businesses, managing merchant risk, revenue optimisation, and more. The response made clear that this shift is top of mind across the industry, so we invited Mario to discuss topics including: What does being an IPP entail, and why are IPPs the biggest risk-takers in the industryKey reflection points on how Encavis AG is mastering its business model evolutionWhat is within the realm of possibilities for IPPs, and what is the outlook on how the model could evolve Links:Virtual PPAs: State of play in 2025Lessons from Spain’s April 2025 Blackout: Making PPA contracts resilient to unforeseen eventsThe Rise of the Nextgen IPP LinkedIn post Unlock More PPA Market InsightsRegister for your free Pexapark account to stay updated on the latest energy transition trends. Learn more >