Renewable Deals, Development & Direction
Welcome to my first newsletter of 2026!
For those who don’t know me, I’m Nikita and for the past eight years, I’ve had the pleasure of partnering closely with developers, IPPs and investors driving the energy transition on high-impact leadership growth.
This has allowed me to build a fantastic network and gain perspectives on how this fast-paced market is continuing to evolve. Here you’ll be able to find an overview of the Renewable Deals, Developments & Direction I’m seeing.
With 2026 in full swing, it's clear the market is maturing through necessity. Capital is still strong, but more selective. Ambition alone isn't enough anymore, but the advantage now sits with those who can execute projects at speed and scale. And that's where leadership quality becomes a real differentiator.
Let's dive in...
Policy & Regulatory Developments
UK's NESO Reform - The overhaul of the UK grid connection process late last year - prioritising projects with credible delivery pathways - is a step in the right direction, but the government's 2030 clean power targets still feel ambitious. We've already seen many projects fall away, and even the developers with Gate 2 offers remain unclear on timelines, costs and locations, making investment and business decisions difficult. Add in technical skill shortages and transmission constraints, and we're likely to see further attrition as well as increasing diversification in project types and structures.
I've plugged a recommended podcast at the end which dives into more detail, and here is the senior talent I’m noticing UK Developers and IPPs prioritise in turn:
France's PPE 3 Decree - After renewable energy capacity additions in France slowed throughout 2025, the announcement of PPE3 on 12th Feb - a multi-year energy plan setting clear solar and wind goals through 2035 - provides much needed visibility and confidence for developers and investors. Though lower than expected, the ~48GW solar, 31GW onshore wind and ~15GW offshore wind targets feel pragmatic and there seems to be a sense of relief for many across the industry.
Germany's Grid & Market Design - As always, Germany remains central to Europe's scaling renewables story. Discussions around grid cost allocation and infrastructure investment incentives are becoming critical as the country's electrification accelerates. For utilities and institutional investors, risk-return clarity for network operators is becoming as important as CfD frameworks for generation.
The Hyperion Search Cleantech Market & Talent Review
Check out our latest quarterly review published in January, with a look back on key industry news, deals, talent trends and people moves (below) from Q4 2025, as well as a few 2026 predictions. To access the full report, download it from our here
Finance, Investment & M&A Activity
Despite more disciplined capital, deployment remains strong for bankable firms with operating assets and late-stage developments.
Investment & Financing Highlights
- R.Power Renewables secure €250m equity to accelerate their European solar, wind and storage buildout.
- Grenergy close a $355 million senior non-recourse financing agreement for three projects totalling 398MW solar and 1.4GWh energy storage in Chile.
- European Energy raise €64.5 million in long-term financing to support the operation of a 101MW solar/200MWh energy storage project in Denmark.
- Econergy Renewable Energy Ltd. reach financial close on a 40MW/120MWh energy storage project in Scotland, securing £21 million in project finance from Santander UK and a long-term optimisation agreement with EDF.
- Scatec ASA reach financial close for a 190MW solar portfolio in Romania and have begun construction of their first projects there.
As many projects across Europe were developed by companies without the capital or infrastructure to actually build them, we're also seeing sustained M&A activity and a definite buyers market.
Project & Platform M&A Highlights
- Alight acquire two solar projects in Finland exceeding 200MW from 3Flash Finland, further expanding their Nordic pipeline.
- IST Investmentstiftung acquire a 91MW regulated solar portfolio in Spain from Bestinver (the asset management arm of ACCIONA) for an enterprise value of over €330 million.
- ContourGlobal enter the Greek market by acquiring ~37MW of operational solar assets and a suite of 500MW/2,000MWh energy storage previously developed by Quest Energy.
- Funds managed by Triple Point acquire a 28MW solar project in the UK from IG Renewables and Anglo Renewables Ltd.
- ABO Energy successfully sell three solar projects in France totalling ~85MW to TENERGIE and CVE (Changing Visions of Energy).
- Aneo continue their Nordic growth by acquiring RWE’s Swedish portfolio of 124MW onshore wind, 48MW of nearshore capacity.
- Nofar Energy agree to acquire a controlling stake in Ellomay Capital Ltd. (NYSE/TASE:ELLO), expanding their operational footprint and strategic growth across Europe, the US and Israel.
Congratulations to everyone involved!
The Developer & IPP Landscape
Across Europe, a clear pattern of pipeline rationalisation and asset rotation has emerged. Early-stage developers are divesting advanced projects, infra-backed IPPs are consolidating, hybridisation with solar or wind plus storage is increasingly being embedded, and corporate PPAs are regaining momentum. Negative pricing events are accelerating portfolio-level thinking and developers who built pipelines during the low-cost era are now partnering with utilities and funds capable of executing.
Utility Strategies
Europe’s major utilities are evolving. They're no longer simply asset owners but system integrators, leaning into grid upgrades, digital optimisation and flexible portfolios. They are orchestrating complex, decentralised systems meaning strategic priorities now include advanced trading platforms, AI-driven forecasting and grouping flexible energy resources. This shift was particularly visible at E-world with optimisation and software solutions front and centre.
Supply Chain & Energy Security
AI-driven demand growth, industrial electrification and geopolitical tensions have made renewable energy projects strategic infrastructure rather than just climate assets, meaning they've firmly entered the security conversation. Supply chains are now very much a board-level topic, moving from cost to resilience focused.
Great article from PwC providing a 2026 outlook on global M&A trends in energy, utilities, and resources here.
Talent & Leadership
Historically, hiring across renewable energy developers and IPPs was driven by expansion - new markets, larger pipelines, aggressive expansion. Today, leadership teams are valued on their ability to deliver in increasingly complex environments.
Success now depends on navigating grid constraints, permitting bottlenecks, merchant exposure, layered capital structures and rapid storage integration. The most in demand profiles I'm seeing are:
- Holistic leaders who combine commercial insight with technical depth, and can move between PPA strategy, project finance and EPC delivery
- Digitally fluent operators who can optimise performance in increasingly merchant portfolios
- Grid and regulatory specialists who understand interconnection queues and evolving CfD frameworks
- Analytical decision-makers who can maintain discipline in periods of market turbulence
- Interdisciplinary managers capable of integrating teams across geographies and technical domains
Boards and investors now expect CEOs and CFOs to align lenders, engineers, regulators and shareholders simultaneously. As infrastructure funds and private credit play a larger role in renewable platforms, capital fluency has become essential.
Execution risk is leadership risk. And in a market with larger projects, tighter timelines and increasingly structured financing, assessing who can truly deliver is more challenging than ever. Hiring strategies must mature with the sector!
Events
Q1 is busy as ever. I've had the pleasure of recently attending:
- Shoosmiths Clean Currents: Energising Tomorrow's Data Centres Event, with a number of great panellists discussing the data centre boom, it's intersection with energy, and the significant opportunities and challenges emerging as a result.
- E-world Energy & Water which showcased how digital and optimisation solutions are shaping the sector. Read more here
Look out for:
- Hyperion's BESS Director David Beeston at the Energy Storage Summit in London (24th & 25th Feb)
- The team at Energy Technology Live in Birmingham (11th-12th March)
- Our MD David Hunt speak at the Future of Utilities in Amsterdam (18th-19th March)
Get in touch if you'll also be attending!
Podcast Spotlight
I'd highly recommend Matt Black’s recent podcast with Ed Porter - The 60GW Solar Question: Can the UK Really Deliver?
A reminder that the real constraints aren't land, but grid, skills and capital. The opportunities for the UK are enormous, but delivery will depend on coordination, workforce investment and getting projects built, not just consented.
Closing Thoughts...
Europe's renewable sector is no longer proving viability, but scalability. Policy clarity is gradually improving, capital is disciplined but consistent, grid reform is progressing and digitalisation is accelerating.
The foundations are there and the mood from conversations over the past few months feel renewed. In this phase, ambition is assumed and success will be defined by the delivery of projects, infrastructure, and capable leadership.
I hope you found this edition of Renewable Deals, Developments & Direction valuable! Please subscribe, share with your network and let me know your feedback.
As always, if you're growing your leadership team within the Renewables space, I'd also love to connect and explore how Hyperion can support.
See you in the next edition,
Nikita