Capital deployment into European energy transition remains structurally attractive, with falling construction costs, growing demand from AI and electrification, and binding EU 2030 targets requiring a step-change in build-out rates. 2025 was a breakout year for battery storage, with 23% more installed than the previous year. But the investment case at the project level is considerably more nuanced than the headline numbers suggest. How do investors get their heads around the specific risks of this fast-growing sector to find the most attractive returns?
