Co-location & Hybrid PPAs in Germany: What’s Real, What’s Priced, What’s Next

Episode notes

Welcome back to The Pexapark Podcast! In the first part of the episode, Luca Pedretti sits down with Max von Hausen , Pexapark’s Regional Lead for PPA and BESS Transactions in the DACH region, to explore the rise of co-located renewable and battery projects - and what hybrid PPA structures actually look like in practice. Drawing from ongoing negotiations and market outreach across Europe, the conversation examines how developers, utilities, corporates, and lenders are approaching the rapidly evolving market for hybrid offtake agreements in Germany and beyond. Key themes from the discussion: What hybrid PPAs are and how co-located solar and BESS projects are structured Why negative prices and falling capture rates are accelerating co-location How pay-as-produced, pay-as-nominated, and hybrid structures differ Why developers are balancing fixed revenues with merchant exposure How FCAs and grid constraints are shaping project economics Why co-location could become the standard model for future renewable projects In the second part of the episode, Luca turns to recent Pexapark market intelligence, examining how data center demand is reshaping US power markets.

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