In this episode of Plugged In, we return to Power Purchase Agreements (PPAs) and their role in Europe’s energy transition. After years of rapid expansion, the PPA market hit a slowdown in 2025. Falling capture rates, rising negative prices and increasing volatility have made deals harder to structure and price, forcing both buyers and sellers to rethink how risk is shared. At the same time, renewable capacity continues to grow, reshaping price dynamics and pushing the market into a more compl...