This report, in association with Brodies LLP, draws on a survey of UK-based senior executives and in-depth interviews. It examines investment intentions across renewable and conventional energy, UK and international dealmaking dynamics and the infrastructure priorities shaping the next phase of the energy transition.

Key findings include:

• Investment is stepping up globally. Looking ahead, 82% of respondents plan to increase the value of their global energy transition infrastructure investments over the next 24 months. 85% of general counsels expect the deal value on which they advise to rise over the same period.
• Commitment to conventional energy. Alongside rising investment in renewables, 37% of respondents continue to maintain exposure to conventional energy assets, underlining their continued role within transition-focused portfolios.
• IoT and storage are the lead global technologies. A majority plan to increase investment in the Internet of Things (IoT) and onsite battery storage, cited by 64% and 60% respectively. When asked to choose a single priority, storage ranks highest at 26%, followed by IoT at 23%.
• Battery storage is the UK renewables subsector of choice. Three quarters of investors and developers plan to invest in battery storage over the next 24 months. This is up from 66% who invested in the subsector over the past two years, though grid constraints present an immediate chokepoint.
• Gas infrastructure is the leading conventional subsector. Among respondents with exposure to conventional energy, gas pipelines and distribution networks are the most targeted subsectors. 20% of all investors and developers expect to invest in gas pipelines and distribution over the next 24 months.
• Geopolitics is the defining overseas risk. Almost half (46%) view geopolitical instability as a major constraint on investing in greenfield projects outside of the UK. 74% share this view regarding M&A transactions involving energy transition assets in foreign markets.

The report is available for download at brodies.com/energy-transition