Financing the European Energy Transition

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• The share of renewable energy in the European electricity generation mix has heavily increased in recent years with no signs that this trend is going to stop anytime soon. One of the main reasons for this development is the introduction and implementation of new policies by the European governments that aim to make its member states independent from fossil fuels by 2050.
• In addition to new policies, the levelised cost of energy decreased substantially thereby bringing renewable generation towards grid parity and further accelerating its build-out.
• But the energy transition also imposes new challenges to the existing electricity infrastructure which consequently needs to become more flexible and smarter. Decentralised renewable generation as well as other trends such as increasing number of electric vehicles (EVs) or electrification in general change the load profile of grids dramatically. The energy transition is therefore heavily dependent on improving energy infrastructure and the overall implementation of smart grids. The latter will also have a significant positive influence on energy efficiency across industries and sectors.