located BESS contracted volumes in 2025. The renewable asset is contracted under a long-term PPA or subsidy scheme, with the BEsS being separately optimized on a merchant basis, or sometimes under an FPA structure. The two assets are therefore contracted under separate contracts. This allows the cash flows. This model, however, does not address the waning appetite for Pay-as-produced solar PPAs, and coordination issues may arise unless the optimizer is also the PV offtaker. Hybrid PPAs, which integrate the two assets contractually. Pexapark identifies two distinct approaches: Partial hybrid PPAs: A portion of the BESS flexibility is bundled with the renewable asset, resulting in a premium on the PPA price. The residual battery flexibility is contracted separately - either through a Combined hybrid PPAs: Both assets are contracted under a single agreement, with payments either itemized separately or combined into one fee. This structure simplifies contracting, offers long-term price certainty, and can be fully bankable. However, adoption has been very limited so far, leaving market combined structures, resulting in a limited pool of potential counterparties.