While falling costs, volatile power prices, and renewable cannibalisation have driven a proliferation of battery energy storage deployments across Europe, policy frameworks, grid access, and financing structures are evolving unevenly, and the long-term return proposition remains unclear. This session examines what the next phase of BESS investment and value capture will demand from capital, developers, and market design to realise durable returns. 

• Revenue Models: Which revenue streams remain structurally investable as ancillary and arbitrage markets saturate, and how quickly is competition compressing spreads? In merchant and tolling structures, who is capturing the greatest share of value asset owners, optimisers, or route to market providers? How far can contracted structures address revenue uncertainty without removing the upside that storage investors are seeking? 

• Portfolio Strategy: How does integrating storage within renewable portfolios change revenue durability, financing terms, and investor returns compared with standalone batteries? Are hybrid portfolio strategies genuinely creating more stable and valuable assets, or reshaping and redistributing merchant risk? 

• Financing and Bankability: How are lenders and equity investors adjusting leverage, tenors, and structuring assumptions in response to revenue uncertainty? Where are portfolio and platform financing models unlocking capital, and where are revenue risks still constraining investment? 

• Grid Economics and Market Access: How are grid charging regimes, access rules, and market structures shaping which storage assets can secure durable returns? Across European markets, which storage and portfolio strategies are proving most capable of delivering reliable long-term value?