BESS Routes-to-Market in Europe: Merchant, Capacity, and Tolling — What Works Where

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Recording from Tuesday, March 31, 2026 | Battery Business & Development Forum | Language: English | Duration: 70:10 .

Revenue models for battery storage are evolving — but not all of them are equally reliable, scalable, or financeable. This session breaks down the three dominant routes-to-market in Europe and examines where they work in practice, how they are structured, and what risks they carry.

What you will discuss:

  • How reliable merchant revenues really are over a 10-year horizon and which assumptions are often wrong

  • Whether capacity markets provide meaningful downside protection and if models like Poland could work elsewhere

  • How tolling agreements are actually negotiated: key risk allocation, pricing challenges, and deal-breakers

  • What makes structured offtake agreements “bankable” and where negotiations typically fail

  • Which routes-to-market are currently viable in Germany vs. other European markets

Moderation

Ulrike Gunnemann
Managing Director
Electric Blue

Speaker

Anna von Bremen
Partner
Head of Energy Innovation
Osborne Clarke

Eva Zimmermann
Senior Research Associate
Aurora Energy Research

Carlos Perez Linkenheil
Global Head of Reports
AFRY Management
Consulting

Daniel Schwarz
Senior Structured Originator
ENGIE

Flip van der Weijden
Head of Growth
Return Storage

Semih Oztreves
Chief Commercial Officer
Network Infrastructure, Zenobē

Rémi Mahoudeaux

Michal Swol
Chief Investment Officer
R.Power

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