Highlights from Renewable Energy Trends Report April 2021
Utility solar PV PPA prices are down 20% from $64/MWh in 2020 to $51/MWh in March 2021. A total of 5.4 GW of solar PPAs have been signed year-to-date.
Utility wind PPA prices are up 2% from $41/MWh in 2020 to just under $42/MWh in 2021, with 4 GW of onshore wind and 0.55 GW of offshore wind PPAs announced so far this year.
Global auctions saw the award of 4.1 GW from five countries in March, bringing the total to 28.7 GW in 2021. Additionally, more than 14.5 GW of capacity is awaiting awards and 22.6 GW of auctions are ongoing.
Has the bubble burst on M&A activity? March saw 3.5 GW worth of transactions from operating assets and 6 GW of development projects. Capacity, however, continues to slide from January’s peak.
Around 34 GWAC of new renewable energy projects were announced in March, up by 3% compared to assets announced in February. In the first quarter of 2021, a total of 91 GW of projects were announced – double compared to the same period in 2020.