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From zero to hero?
26/09/2025
It is still early days when it comes to judging the likelihood of success in Europe’s drive towards strategic autonomy. But there are potential promising trends, especially on energy infrastructure.
The clean energy transition refers to the transformation of the energy system from fossil fuel-based energy such as oil, gas and coal towards zero-carbon sources such as wind and solar. This has met with some success. Over the past decade, clean energy investment has doubled to hit an estimated U.S. $2.0 trillion this year while the share of zero carbon sources in global electricity generation has hit 41%, up seven percentage points since 2015.[1]
However, it is sometimes forgotten that global energy demand is itself a moving target. Particularly in emerging markets, it continues to increase due to population growth, industrialization and rising living standards. Depending on the scenario, global energy demand is expected to grow between 20% to 50% by 2050.[2]
This suggest more infrastructure investment in energy networks is required if the clean energy transition is ever to gain momentum. “We believe Europe stands out as a compelling investment destination,” argues Richard Marshall, Head of Infrastructure Research at DWS. This reflects the European infrastructure market being the largest and most developed globally, with potential opportunities spanning every sector.[3]
The scale of the financial commitment matters because public funding of this scale tends to act as a catalyst for crowding in private capital. Indeed, the German fiscal package is designed to target large-cap, core infrastructure networks like rail and grids and stimulate private capital investment in more commercial sectors such as digital infrastructure, renewables, and energy efficiency, all of which should help drive Germany’s climate and digital agenda.
This is part of broader efforts by Europe to reposition itself as a strategic, diversified and policy-supported investment destination.[4]
Less than 50% of the increase in global energy demand since 2015 has been met by renewables
Sources: Energy Institute (June 2025). Statistical Review of World Energy 2025; renewables include solar, wind, biofuels, hydropower and other renewables. DWS Investment GmbH as of 9/10/25
This information is subject to change at any time, based upon economic, market and other considerations and should not be construed as a recommendation. Past performance is not indicative of future returns. Forecasts are based on assumptions, estimates, opinions and hypothetical models that may prove to be incorrect. Alternative investments may be speculative and involve significant risks including illiquidity, heightened potential for loss and lack of transparency. Alternatives are not suitable for all clients.