Energy Transition
Energy Transition

Energy Transition Investment - 2021 Report

The global focus on climate change is driving significant shifts in the investment strategies being adopted by organisations throughout the G20.

This report provides the results of an Ashurst survey of 992 senior managers involved in energy investment decision making across the G20, conducted in September and October 2021*. The average global turnover among all respondent organisations was US$8.8 billion.

Our research shows that almost every organisation, large or small, has set a net zero emissions target or is developing one.

The key pillar of organisations’ plans, both in terms of those looking to invest in energy transition projects for returns and those seeking to adapt their operational models to reduce their carbon footprint, is to support the transition from a reliance on fossil fuels towards low-carbon energy production. For example, 82% of survey respondents saw the increasing use of renewables as critical to their strategic growth and said they expected their pace of investment to rise.

As this report shows, organisations’ strategies for investing in renewables and broader decarbonisation projects are being driven by the greater availability of proven technologies, greenfield developments and, importantly, an ever-increasing skills base.

In Ashurst’s experience, this is leading to a significant growth in greenfield project development across both proven technologies such as onshore wind and solar, as well as emerging decarbonisation technologies including battery storage and hydrogen (both for domestic consumption and for export).

Ashurst is also seeing continued growth in merger and acquisition (M&A) activity in clean energy portfolios of both greenfield and operational assets, with huge amounts of private capital chasing investment opportunities across the spectrum of risk.

At the same time, this activity is being accompanied by a rise in commercial disputes around project delivery and construction. Many organisations remain concerned about a lack of commercial and government incentives, among other investment barriers.

Finally, our research shows that the list of key players is changing as business leaders adapt their models. Traditional investors in energy projects face new competition from the likes of transport groups that are investing in greenfield decarbonisation projects as part of strategies to meet their climate-related targets.

Watch our client interview videos and download the report

The pace of change - Ep 1

23 Dec 2021

Watch Ashurst's Paul Curnow and Dan Brown speak to Nitin Apte, CEO of Vena Energy. (running time = 13.05m)

The pace of change - Ep 2

23 Dec 2021

Watch Ashurst's Paul Curnow and Kate Phillips speak to Daniel Kim, CEO of Ark Energy Corporation. (running time = 14.19m)

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