Glennmont Partners, together with BNP Paribas Asset Management, brought together key industry stakeholders and financial investors in Rome on Friday 12th October at a seminar discussing how renewables are at the centre of the energy transition and the investment opportunities that this presents.
Francesco Cacciabue, Partner and CFO of Glennmont Partners and the Glennmont team were joined by Tommaso Barbetti, Founding Partner at Elemens, Alessandro Mancino, VP Sales and Marketing at Siemens Gamesa Renewable Energy and Valerio Capizzi, Head of Energy EMEA at ING Bank.
Attendees of the event explored the objectives of the European Union in terms of renewable energy and the need for investment in the sector, as well as the energy transition path of European countries and the evolution of financing. Keynote speakers discussed investment trends within the industry and considered how technical innovations within the sector are creating new economic opportunities.
Tommaso Barbetti, who has over a decade’s worth of experience working in the clean energy sector, noted how the new RED II directive opens up an unprecedented market, with the new European target for renewable energy sources by 2030 being set at 32%. In an investment overview, Tommaso further noted that in the short term, it is expected that there will be more investment in wind than in solar, with solar then overtaking wind in 2023.
Alessandro Mancino, who has been working in the renewable energy sector for over 10 years, noted in his presentation the competitive cost of energy that onshore wind installations present. He further commented on the break-through innovations within the industry that mean by the early 2020’s, even more powerful next-generation turbines will be available – something that Siemens Gamesa Renewable Energy is well positioned to deliver.
Valerio Capizzi, an expert in project finance and structured finance, highlighted how over the last five years, financing from banks into renewables has steadily increased, noting that in Europe wind energy attracts more than 50% of bank financings. He went on to acknowledge the fact that investors and consumers are now more sensitive to sustainability, and that banks have widened their traditional range of products to accommodate for this.
The seminar provided an opportunity for investors and industry stakeholders to discuss key points relating to financing in regards to renewable energy and allowed attendees to gain invaluable insight into the future of renewable investment and of the sector more widely. Glennmont is pleased to be delivering seminars such as this, which bring together key sector voices and help cast light on financing and investor trends within the renewable industry.