Europe dominates clean power league

“In this more complex subsidy-free environment, renewable developers must work harder and smarter to find the revenue certainty they need to finance or monetise their efforts. Europe has led the way with unsubsidised projects in areas with good renewable resources, and multiple projects across the Nordics, UK, and Spain are being developed – backed by private investment and corporate power purchase agreements (PPAs) to provide the required stability,” said Ben Warren, EY Global Power & Utilities Corporate Finance Leader and RECAI Chief Editor. “For the renewable energy market overall, however, a future without government subsidy is one that will no longer be vulnerable to sudden shifts in policy, or to retroactive changes to promised tariffs. It will be one where market forces impose discipline, drive efficiencies and accelerate the cost reductions that have allowed the sector to stand on its own two feet.”