Accelerating Europe’s renewable energy transition: Insights from RE-Source 2023

Energy & Climate Consulting
Energy & Climate Consulting

As the renewable energy sector continues to evolve, RE-Source 2023  acted as a critical platform for industry professionals. This congregation of buyers and sellers, policymakers, and experts was more than just an event—it was a beacon for the renewable energy transition in Europe. Over two days of rich discourse, attendees navigated the complexities of power purchase agreements (PPAs), addressed the turbulent energy market, and envisioned new horizons for renewable initiatives.

3Degrees was well represented with colleagues from various business units, including our consulting and trading teams. We all had the chance to connect with fellow attendees and get intrigued by new ideas, which we have condensed into these highlights:

Embracing the PPA Narrative

On day one, Luckaz Kolinski Head of Unit in the Directorate-General for Energy from the European Commission (EC) and Nick Bitsios Head of the Brussels Office from Mytilineos underscored the pivotal role of PPAs amidst market constraints. The discussions delved into overcoming intermittency issues and the challenges posed by revenue caps, emphasizing the need for a resilient PPA market. They also explored the digitalization of project pipelines, discussing 13 new renewable energy projects across Europe that are igniting a drive towards a greener future.

New Horizons to Address Natural Gas

The event was abuzz with talk potential of biomethane solutions. The dialogue extended to Gas Purchase Agreements (GPAs) and the complexities of Energy Attribute Certificate (EAC) Portfolio Management, signaling a readiness to expand beyond traditional markets.

Crafting the Future Blueprint for the EU Market Design

The EC’s impending updates to the market design were a central theme, with a consensus on the need for a long-term framework, underpinned by PPAs. The discussions around multi-buyer PPAs and the early engagement of buyers outlined a blueprint for a sustainable and inclusive European energy market.

Tyler Espinoza shared expert insights at RE-source 2023

Refining Strategies and Fast-Tracking PPA Negotiations

The second day of the event focused on refining PPA negotiation strategies, the rise of energy storage, and analyzing specific European markets. I spoke on a panel and shared expert insights on balancing risk allocation and the importance of buyer readiness to avoid delays. I discussed a refined approach for streamlining negotiations that emphasized pre-negotiation, direct dealings, and the benefits of in-person engagements, which provided actionable strategies for industry players.

Excitement Around Energy Storage

Developers expressed a growing interest in energy storage, a topic that has become central to discussions on renewable energy. As corporate buyers express concerns over energy storage, the conversation has started to shift towards risk mitigation, reflecting the dynamic nature of the market and the innovative solutions on the horizon.

A Gathering of Innovation and Strategy

RE-Source 2023 served as a melting pot of insights, strategies, and innovative visions, reinforcing the importance of transparency, readiness, and collaboration. The event painted a picture of a Europe poised to solidify its status as a renewable energy powerhouse, with RE-Source 2023 at the forefront of this transformative journey.

At 3Degrees, we are committed to supporting this transition, offering insights and guidance on how to navigate the evolving energy landscape. Look out for upcoming insights on the European energy landscape by signing up for our newsletter. And if you want to work together, please reach out to our team.