Energy Unplugged by Aurora EP.242 Jonathan Dillon on Clean Energy Investment Trends in Europe
May 6, 2025
Jonathan Dillon, a Partner at Clifford Chance, dives into the dynamic world of clean energy investments in Europe. He discusses the surge from €90 billion to €180 billion, fueled by the energy crisis and government initiatives. Dillon highlights the shift from public to private capital, with firms like Blackstone leading the charge. He also addresses emerging market trends, the evolving role of battery storage, and how geopolitical uncertainties shape investors' decisions and strategies for sustainable energy.
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Europe's Clean Energy Investment Surge
- Clean energy investment in Europe has doubled from about 90 billion to 180 billion euros per year since 2020.
- Europe now makes up about 20% of global clean energy investment, behind only China and the US.
Rise of Private Capital in Energy
- Private capital funds like Blackstone and Brookfield increasingly fund clean energy projects instead of public companies.
- Public stock markets have shrunk in scale, with private capital growing rapidly in infrastructure investments.
Big Investors Seek Large Scale Projects
- Large institutional investors prefer investing at scale, often with ticket sizes of 500 million euros or more.
- They often seek multi-technology, multi-jurisdiction platforms mixing operational and development assets.