The performance of precise point positioning (PPP) has been significantly improved thanks to the continuous improvements in satellite orbit, clock, and ambiguity resolution (AR) technologies, but the convergence speed remains a limiting factor in real-time PPP applications. To improve the PPP precision and convergence time, tropospheric delays from a regional network can be modeled to provide precise correction for users. We focus on the precise modeling of zenith wet delay (ZWD) over a wide area with large altitude variations for improving PPP-AR. By exploiting the water vapor exponential vertical decrease, we develop a modified optimal fitting coefficients (MOFC) model based on the traditional optimal fitting coefficients (OFC) model. The proposed MOFC model provides a precision better than 1.5 cm under sparse inter-station distances over the Europe region, with a significant improvement of 70% for high-altitude stations compared to the OFC model. The MOFC model with different densities of reference stations is further evaluated in GPS and Galileo kinematic PPP-AR solutions. Compared to the PPP-AR solutions without tropospheric delay augmentation, the positioning precision of those with 100-km inter-station spacing MOFC and OFC is improved by 25.7% and 17.8%, respectively, and the corresponding time to first fix (TTFF) is improved by 36.9% and 33.0% in the high-altitude areas. On the other hand, the OFC model only slightly improves the TTFF and positioning accuracy when using the 200 km inter-station spacing modeling and even degrades the positioning for high-altitude stations, whereas using the MOFC model, the PPP-AR solutions always improve. Moreover, the positioning precision improvement of MOFC compared with OFC is about 22.1%, 21.7%, and 25.7% for the Galileo-only, GPS-only, and GPS + Galileo PPP-AR solutions, respectively.