In Spain, the average solar PPA price fell by 5.1% between the fourth quarter of 2024 and the first quarter of 2025. Image: BNZ. The average value of a solar power purchase agreement (PPA) signed in Europe in the first quarter of 2025 was just 1.3% higher than in the previous quarter, demonstrating significant stability in the European solar offtake space. This is a key conclusion to be drawn from LevelTen Energy's latest report into the European renewable PPA sector, published today, which found that the price of the average solar PPA agreed in Europe increased by just €0.79/MWh (US$0.88/MWh) from the fourth quarter of 2024 to the first quarter of 2025, reaching €63.11/MWh.