In Europe, and shortly the Gulf, conflict has reshaped the investment case around energy security, turning it from a thesis into tangible opportunities. From critical minerals to grid modernisation and battery storage, private capital will be an essential part of the funding mix - in Europe, expectations are for it to provide the majority of the 660bn / yr that’s needed. What does energy security mean for portfolio construction? How are investors balancing fiduciary obligations with the long-term direction of energy transition?
