Over the past six months we have tracked a steady flow of deals across the full spectrum of clean energy technologies. The first half of 2026 saw significant capital move into wind, battery storage and solar, alongside notable transactions in small modular reactors (SMRs), hydrogen, energy from waste and the grid.
The bigger picture
Bloomberg recorded $2.3 trillion flowed into energy transition companies and projects over 2025, globally. Their estimate is that $4.8 trillion is needed per year over 2026 (and every year until 2030) to reach net zero. Based on the current outlook of accelerating renewables investment, we expect 2026 will see higher investment than Bloomberg’s 2025 figure. However, reaching $4.8 trillion is still very ambitious.
The clearest signal of intent came from Italy, with their €23 billion ($26.1bn) investment plan that was approved by the European Commission in June 2026. The scheme supports clean generation through two-way Contracts for Difference (CfDs), agreements that guarantee a developer a fixed price, paying the difference when market prices fall below it and clawing back the surplus when they rise above it. This is a significant investment that will offer huge growth potential for Italy.
Fundraising led by global players
Capital raising has accelerated among the major managers. Blackstone is fundraising for its fifth Energy Transition Partners vehicle (BETP V), which raised an initial $1.7 billion in April and is expected to close meaningfully larger than its $5.5 billion predecessor. Separately, its Blackstone Infrastructure Strategies fund raised over $1 billion aimed at wealthy individual investors, widening the pool of capital reaching the sector.
Actis held a $2.5 billion first close on its sixth energy fund in May, targeting $6 billion across power, transmission and distribution, while Energy Capital Partners neared a $5 billion target on its sixth flagship fund in the same month. In March, InfraVia closed its sixth fund at €8 billion, ahead of its €7 billion target, and has already committed €1 billion to data centre, maritime infrastructure and Spanish renewables platforms. Others raising new vehicles include EQT, Copenhagen Infrastructure Partners (CIP), Stonepeak and Pantheon. The first half of 2026 shows the appetite for clean energy investment is strong.
Developers and IPPs scaling up
The capital is finding its way to developers and independent power producers (IPPs) with ambitious build-out plans. Spain's Qualitas Energy unveiled a strategy targeting around €10 billion of transition investment by 2029 across wind, solar and storage. Norway's state-owned Statkraft lifted its ten-year green power plan to over €7 billion, weighted towards Nordic and European hydropower, wind and solar. Denmark's European Energy added to its renewables projects and went on to win €1.3 billion of German hydrogen support alongside CIP and Everfuel, signalling a push into green hydrogen.
Ownership is shifting too. Blackstone took a €2 billion stake in Danish onshore developer Eurowind Energy to fund its European expansion, while Ørsted's European onshore wind and solar business re-emerged as Perigus following its acquisition by CIP, creating a sizeable standalone onshore platform overnight.
UK flows
In the UK, the UK government has invested in battery storage through a £380 million battery gigafactory commitment, while long-duration and battery storage financing was a core driver of UK deals, with notable traction over the past six months at Matrix, Gridserve, Zenobe and Gresham House. The grid is the other big theme: Scottish Power pledged £12 billion to a grid overhaul, National Grid plans £4.5 billion of transmission spend, and the National Wealth Fund will back a major upgrade in the north of Scotland with £800 million for SSEN Transmission.
European flows
Across Europe, networks are attracting fresh equity. Allianz Global Investors agreed to take a stake in Amprion, Germany's second-largest grid operator, backing roughly €36 billion of planned grid expansion to 2029 in its first direct equity investment in a power grid. Pioneer Point Partners took a majority stake in UK low-carbon heat network developer Rendesco in a deal worth about £100 million.
Public funding grew sharply, with the EU driving force across multiple channels. These included direct grants, such as the €650 million awarded under the Connecting Europe Facility to 14 cross-border projects. They also included approvals of national State aid schemes under the Clean Industrial Deal, including €5 billion of Danish offshore wind aid and France's low-carbon hydrogen scheme, as well as co-funding of member-state programmes, such as the €5.85 billion secured by Germany and Slovakia in May.
Hydrogen was a particular focus. The EU's third Hydrogen Bank auction allocated €1.1 billion across nine projects. Looking outward, the EU also launched the Trans-Mediterranean Renewable Energy and Clean Tech Cooperation (T-MED), aiming to mobilise up to €25 billion by 2035 across the wider Mediterranean.
Talent to deliver the capital
Capital at this scale only works when there are teams to deploy it. As funds grow and developers expand across wind, solar, storage, hydrogen and grid, so does the need for professionals who can originate, finance and build, a combination that remains scarce and highly sought after.
At Mint Selection, we support this evolving market across renewable developers, IPPs, infrastructure funds and the wider energy sector, connecting organisations with the commercial, technical and investment talent to turn committed capital into delivered projects. To discuss your resourcing requirements, reach out at hello@mintselection.com.