2.2 Diverging buyer and seller expectations This repricing intensified the gap between buyers and sellers. Buyers anchor bids to risk-adjusted value and portfolio considerations, while sellers remain constrained by LCOE, financing conditions and minimum return requirements. In several markets, this divergence compressed - or entirely expectations - directly weighing on deal flow. verified bids, offers, and transaction price evidence collected by Pexapark as of December 2025. Prices exclude balancing
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