The challenge
As we face the evolving landscape of energy transition and technological advances, energy demand continues to grow. Notably, electricity consumption in Europe is expected to increase by 60% between now and 2030. This is mainly driven by the increasing electrification of consumption as well as the prevalence of distributed generation. However, Europe’s current electricity infrastructure — one of the largest and most resilient electrical grids in the world, supplying electricity to millions of people — struggles to keep up with the increasing demand for energy.
In response to this challenge, the European Commission emphasized, during a press conference on November 28, 2023, the pressing need for a significant investment of €584 billion by 2030 to modernize the European electricity grid. This underscores the urgency for innovative and forward-looking solutions to relieve the strain on our grid while seamlessly advancing energy transition initiatives.