2024 Global Trends and Outlook for Energy and Power Investment

Although global clean energy capacity is expanding rapidly, over 3,000 gigawatts (GW) of renewable power projects worldwide are currently queued for grid connection—five times the combined new solar photovoltaic and wind power capacity added globally in 2022. Grid infrastructure has thus become a bottleneck in the energy transition. Since 2015, global investment in grids has remained nearly flat at approximately $300 billion annually, as shown in Figure 2. Recently, however, grid investment has begun accelerating globally, driven by new policies and funding in China, the United States, Europe, and parts of Latin America; it is projected to reach $400 billion in 2024, with advanced economies and China accounting for 80% of this total. Meanwhile, given the intermittency and uncertainty inherent in renewable energy sources, energy storage has also emerged as a critical enabler of the energy transition. In 2023, global battery storage investment exceeded $40 billion, with 90% concentrated in China, the United States, and Europe, as illustrated in Figure 3. (III) Uneven Global Distribution of Clean Energy Investment: Leadership by China, the U.S., and Europe Globally, clean energy investment remains highly uneven, concentrated primarily in China, the United States, and Europe—as depicted in Figure 4. Supported by its vast domestic market and the rapid growth of its 'New Three' industries (electric passenger vehicles, solar cells, and lithium batteries), China’s clean energy investment in 2024 is expected to approach $680 billion—about 1.8 times its 2019 level. U.S. clean energy investment in 2024 is projected to exceed $300 billion, 1.6 times its 2019 figure, far surpassing its fossil fuel investment. Europe’s clean energy investment in 2024 is estimated at around $470 billion—1.7 times its 2019 amount. By contrast, emerging markets and developing countries outside China are expected to invest only about $30 billion in clean energy in 2024—roughly 15% of the global total. Both in absolute terms and relative share, this falls significantly short of the level required to ensure a successful energy transition. (IV) Rising Trend of Privatization Transactions Among Global Clean Energy Listed Companies: Energy Transition Assets Become Highly Sought-after Targets Recently, privatization transactions involving global clean energy listed companies have increased markedly. In March 2024, U.S.-based private equity firm KKR formally launched a €2.8 billion ($3.1 billion) privatization offer for German renewable energy company Encavis; in May, U.S. clean energy and grid company Allete announced it had reached an agreement with Canada’s CPP Investments and global infrastructure partner GIP to be taken private for $6.2 billion; Spanish multinational utility Iberdrola acquired the remaining 18.4% stake in U.S. clean energy and grid company Avangrid for $2.6 billion, completing its privatization; and Canadian asset manager Brookfield, together with Singapore-based Temasek, announced they were engaged in exclusive negotiations with French renewable energy company Neoen regarding a €6.1 billion ($6.6 billion) privatization deal. This wave of privatization transactions signals that clean energy listed companies are attracting strong global investor interest amid current macroeconomic uncertainties—and assets related to grid modernization and renewable energy—core components of the energy transition—are becoming highly coveted targets.

Why Did Bilbao Win the Bid to Host Europe’s Premier Energy Exhibition? Understanding the Underlying Logic Behind the Venue Selection—from Industry to Policy

For exhibitors, this means 'accessing major clients right on their doorstep': Iberdrola operates across 30 countries globally, and its procurement needs for smart grids and long-duration energy storage precisely match the core offerings of exhibitors such as CATL and Siemens. This 'zero-distance supply-demand linkage'—rooted in robust local industry foundations—is difficult for traditional exhibition hubs like Paris or Milan to replicate. After all, no other city enables exhibitors to meet decision-makers from Europe’s top-tier energy operators within walking distance. 2. Carbon-Neutral Practice Is Not Just 'Pie in the Sky'—It’s Real-World Implementation Bilbao’s energy transition is not confined to paper plans: Repsol invested over €10 million in building an LNG-fueled terminal, reducing annual carbon emissions by 73,000 tons—equivalent to the yearly emissions of 50,000 cars; synthetic fuel plants and neighborhood heat pump networks are already operational. This 'technology-in-action' character perfectly aligns with Enlit Europe’s practice-oriented positioning. The exhibition’s dedicated 'Carbon-Neutral Zone' functions as a live testbed directly integrated with the city’s existing decarbonization initiatives—allowing attendees to witness firsthand how 'carbon-neutral exhibition halls' extend into 'carbon-neutral neighborhoods' and 'carbon-neutral industrial facilities', without relying on PowerPoint presentations. III. Geographic Hub: The 'Gateway' to Southern European Energy Markets 1. Seamless Air, Sea, and Land Connectivity Minimizes Travel Hassles for Exhibitors As Spain’s northern gateway, Bilbao offers exceptionally convenient transportation for exhibitions: its international airport provides direct flights to 20 European countries, with travel time to key energy hubs like Paris and Frankfurt taking just two hours; its port serves as a major European LNG hub, equipped with six LNG terminals capable of efficiently handling large-scale equipment—including hydrogen storage and transport systems and oversized grid transformers. For companies shipping heavy exhibits, the dual-airport-and-port logistics hub significantly reduces freight costs: transporting an energy storage converter from port to venue, for instance, saves at least three days compared to inland transit. 2. Capturing the 'Boom Dividend' of the Southern European Market The EU’s energy transition exhibits a pronounced 'North–South divide': Northern Europe focuses on wind power, while Southern Europe represents a 'blue ocean' for solar PV and energy storage. Spain’s share of renewable electricity generation reached 50% in 2023, with plans to install 76 GW of solar PV capacity; neighboring Italy is projected to exceed 8 GW of installed solar PV capacity by 2025. Strategically located at the heart of the Southern European market, Bilbao offers exhibitors a springboard—enabling southward expansion across the Iberian Peninsula and northward reach into southern France—effectively granting them a 'ticket of entry' to Southern Europe’s high-growth incremental markets. This is precisely why Chinese enterprises flock here: Suntech Power, for example, leveraged Spanish distribution channels to rapidly capture Italy’s residential PV market. IV. Exhibition Ecosystem: 'Service Security' Forged Over 30 Years of Experience 1. World-Class Infrastructure and Services Spain ranks third globally in hosting international exhibitions, and business travelers spent an average of €144 per day in Spain in 2014—far exceeding the spending of ordinary tourists. The Bilbao Exhibition Centre stands as a benchmark facility: its 50,000-square-meter exhibition space accommodates over 1,000 booths; its conference facilities feature simultaneous interpretation in eight languages; even floor load-bearing capacities were engineered specifically to support heavy energy equipment.

Iberdrola Said to Explore Sale of German Solar Assets

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Iberdrola explores selling 121 MW German solar assets worth €100-200 million to pivot to regulated networks in the US, UK, and Brazil. The move retains offshore wind stakes and involves plants powering clients like Vodafone and Salzgitter.

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Iberdrola Said to Explore Sale of German Solar Assets

Iberdrola Said to Explore Sale of German Solar Assets

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