Across Europe, energy systems are being pushed harder than ever. Power needs to stay affordable for households and businesses, emissions must fall fast, and security of supply can no longer be taken for granted. This is the energy trilemma playing out in real time, and it is reshaping how energy is produced, traded and consumed.

In the first quarter of 2026, our Renewable Energy Trading & Optimisation business continued to build the capabilities that help energy systems cope with that reality. We strengthened our portfolio across core markets by connecting renewables, flexibility and customers in ways that make the transition efficient, more predictable, and bankable. In short, we saw strong delivery against our strategy across all focus areas:

 

  • Portfolio growth of 2.6 GW year on year, bringing total capacity under contract to 18.8 GW and supporting our 2030 ambition of 30 GW.

  • Further penetration of priority BESS markets, with more than 696 MW of battery energy storage systems now under contract.

 

Meeting Market Demand Across Europe 

As volatility persists, businesses face a reality where success depends not just on securing energy, but on managing the risks that come with it. Energy costs can vary dramatically depending on when and how they are hedged, and during periods of uncertainty, procurement decisions can make the difference between stability and the need to manage exposure. Resultingly, we see growth in customers increasingly combining optimisation and risk-management services to secure cost-control and reduce their exposure to the impact of energy market volatility outside of their control. 

The growth we are seeing across our portfolio is a clear vote of confidence from customers and partners alike. They trust us to act on their behalf in increasingly complex markets, optimising assets with discipline, transparency and a sharp focus on the outcomes that matter most to them. As volatility persists and the challenge of managing risk intensifies, our track record demonstrates our ability to navigate uncertainty while advancing affordability, security of supply and the decarbonisation of energy systems.

Cassim Mangerah
Managing Director, Centrica Energy

During the quarter, we notably signed long-term Corporate Power Purchase Agreements with thyssenkrupp Steel in Germany and UrbanChain in the UK. These agreements highlight how innovative PPA structures can connect renewable generation directly with corporate demand. By integrating existing wind assets and tailored commercial models, they enable industrial customers to manage price risk while advancing their decarbonisation goals. Together, these deals reinforce our growing footprint in Germany and the UK and open the door to deeper collaboration with sustainability-focused partners.

 

The same system-wide thinking is playing out on the supply side. In Germany, our partnership with Encavis reached a new milestone, with 550 MW of renewable assets now under management. As the European renewable market matures, the need for reliable, long-term management of renewable power continues to grow, reinforcing our role as a trusted partner in securing a stable supply of green energy and enabling further investment in the energy transition.

 

Flexibility is Key 

As renewable penetration increases, flexibility becomes just as important as generation. Batteries are playing a growing role in keeping power systems stable by responding in seconds to changes in supply and demand. They help prevent outages, reduce reliance on fossil fuel based backup generation, and allow more wind and solar to be integrated safely into the system.

 

During the first quarter our battery optimisation portfolio grew to more than 696 MW under contract. New Flexibility Purchase Agreements were concluded for grid scale battery projects in Belgium and Sweden, including the Gramme Storage BESS and the Virton BESS, which are strategically positioned to support system balancing and congestion management in an increasingly interconnected European power market.

We have continued to sharpen and specialise our teams across products and geographies so we can deliver for customers whenever and wherever the energy system needs flexibility. As we work towards an ambition of managing up to 30 GW of renewable and flexible assets before 2030, our focus is on building that portfolio with the right capacity. The right technologies, in the right locations, close to the right markets. That is where flexibility creates the greatest value, both for customers and for the energy system, as renewables scale and markets move faster.

Kristian Gjerløv-Juel
VP, RET&O

With BESS assets under contract across the UK, Denmark, Sweden, Finland and Belgium, our growing portfolio reflects both increasing market maturity and the confidence our partners place in our optimisation capabilities. We continue to demonstrate how volatility can be managed with intent, positioning flexibility as a stabilising force for markets and consumers alike.

 

Looking Ahead

Looking ahead to the rest of 2026, demand for renewable offtake, flexibility and portfolio optimisation continues to grow. Not because energy markets are becoming simpler, but because the transition demands smarter coordination between assets, customers and systems.

 

Today, our portfolio spans 18.8 GW of renewable and flexible capacity under management across Europe. Bringing together wind, solar and battery assets, the majority of our portfolio has been built through long‑term agreements with independent power producers, businesses and corporates, as well as investors in battery storage systems, all seeking to invest in electrification and the transition to a cleaner electricity system.

 

At its core, Renewable Energy Trading & Optimisation is about making the energy transition work in practice. Keeping power affordable when markets are volatile. Keeping the system secure as weather dependent generation grows. And accelerating the shift to a lower carbon energy system that works for everyone.