The transformation of the energy sector in Europe is gaining momentum, offering attractive opportunities for investors. The Wood & Company Renewables sub-fund is responding to the dynamic development by acquiring two battery storage projects in Sweden and Finland.
The demand for electricity in the EU is expected to grow by an average of 1.5-2% per year until 2030. According to the European Commission, up to €100 billion in investments in energy and the green economy are needed to maintain the current growth rate and remain competitive. Battery storage capacity is expected to increase at least fourfold by 2030.
“Battery storage is starting to play a key role in ensuring the stability of the electricity grid. Without batteries, we cannot build more renewable energy sources. And factors such as falling material prices, improved chemical composition and increased production are further improving the economics of battery storage,” says Václav Kůla, Portfolio Manager at Wood & Company.
Wood & Co. Renewables, a sub-fund that invests in renewable energy projects across Europe, is capitalising on this trend and is preparing to expand its portfolio with new projects in Scandinavia. The current investment round is open to investors until the end of October. The fund’s long-term target return is 15% p.a.
