Partner, Head of Corporate, UK
Peter Feehan, Partner at Pinsent Masons, discusses the drivers of change, the opportunities from energy storage and the disruptors in the industry
Europe's fastest-growing energy businesses are a force for good throughout the continent, underpinning efforts to combat climate change with a focus on renewable energy and smart technology. Their rapid rates of growth reflect the determination of governments to promote alternative energy, but also their own innate ability to scale at pace.
What is it that has enabled these businesses to accelerate so much more rapidly than their peers? This research sets out to provide an answer to that question. It is part of Pinsent Masons' wider Pacesetters initiative, a landmark project designed to better understand what is driving Europe's fastest-growing companies across a range of industries.
In the case of the energy industry, this report is based on exclusive interviews with 100 senior executives of fast-growing businesses across Western Europe, spanning several different sub-sectors of the marketplace. These enterprises vary in size and scale and operate according to a range of business models, yet they share common characteristics that lie at the core of their rapid growth.
These are businesses with a deep-seated commitment to innovation, with large-scale technology investment programmes designed to ensure they retain a competitive edge in a rapidly evolving marketplace. They are businesses that recognise the power of collaboration, exploring both formal M&A activity and a range of alliances. And they are determined to pursue new market opportunities, expand their product lines and focus on the changing needs of their customers.
The energy sector faces a variety of challenges, and government influence in the marketplace through funding and incentives creates problems as well as opportunities. Nevertheless, these businesses continue to deliver impressive rates of growth and are optimistic about the future. Pacesetters provides a detailed view of what is driving that growth - we hope it will help others to follow their lead.
Change is coming
Risky business - regulation and risk
United front - M&A and alliances
How government funding supports the market