The inaugural Tamarindo Investing in Battery Energy Storage Conference will take place on 19 March in London – here we highlight some of the hottest topics to be discussed at the event including the future of offtake structures and how grid constraints jeopardise project viability
The future of offtake structures, defining a “financeable” battery asset, grid connection issues, and lenders’ tolerance for merchant exposure will be among the big issues under discussion at the inaugural Tamarindo Investing in Battery Energy Storage 2026 conference, which will take place in London next week. The event takes place at a pivotal moment for the battery energy storage sector. The industry has undergone an incredible evolution and is no longer a niche technology or a future concept, but is rather a critical piece of infrastructure that enables the energy transition.
However, as the industry evolves it now faces unprecedented challenges. These challenges include how to develop future offtake structures to ensure bankability, the role of partial tolls, what now defines a “financeable” storage asset, and whether grid connection is now the biggest threat to project viability. In addition, the industry is also seeking clarity on what degree of merchant exposure lenders are willing to accept, as well as the factors now driving storage in different markets, whether that be technology costs, market volatility or regulatory certainty.
These are just some of the issues that will be explored at the upcoming conference, where speakers include representatives from MUFG, SMBC, SSE, Prime Capital, AIP Management, Fluence, ENGIE, Gore Street Capital, Statkraft, BW ESS, Fidra Energy, Harmony Energy, NatPower, NHOA Energy, Econergy, Asper Investment Management and GoldenPeaks Capital.
Ahead of the event, let’s take a look at eight of the hottest topics that will be addressed at the conference:
1. Shifting Offtake Strategies – How pronounced is the transition from short-duration ancillary service contracts to longer-duration tolling agreements and what is its impact on investor appetite? This topic will be explored by speakers including Fidra Energy COO Lisa Mackay. Mackay has said more tollers are coming into the market and less floor providers – she also says the market is seeing new products like virtual battery swaps or day ahead swaps, or virtual tolls. To read an exclusive interview with Lisa Mackay, click here
2. Optimising Tolling Structures for BESS – How can partial tolls and blended revenue models maximize investment returns and reduce risk exposure? Prime Capital will be among the investors represented on a panel that will look at what the investment community is looking for at a time when most projects are expected to take a blended approach to revenue generation and risk management. Prime Capital has said that, with regard to its biggest projects, one tolling agreement may not be sufficient, but in its smallest projects, even if it has received subsidies, it might adopt a fully merchant approach. To read an interview with Prime Capital’s Mathias Bimberg, click here
3. Scaling Multi-Market Investment Platforms – What are the best strategies for developers to build scalable, cross-border BESS portfolios, given risk management, supply chain and capital recycling considerations? One of the event’s ‘Fireside Chats’ will examine the characteristics of a successful multi-market energy storage investment platform and assess the importance of repeatability, disciplined risk management, and capital efficiency. It will also look at best practice for deploying a consistent development, commercial, and financing model that can be adapted to local market conditions. AIP Management’s Greg Falzon will be one of the participants in the Fireside Chat – Falzon has said that more infrastructure funds and core infrastructure funds are entering the battery storage space. To read an interview with Falzon, click here. Falzon will be on stage in conversation with BW ESS CEO and co-founder Erik Strømsø at the conference.
4. Maximising Battery Use for Grid Balancing – What are the optimal applications of batteries for energy shifting or as non-wires alternatives? How do you maximise battery revenues amid grid constraints? The viability of using longer duration batteries to elongate energy shifting periods will also be up for discussion at the conference. Consideration will also be given to whether batteries can realistically serve as a “non-wires alternative” to defer or avoid transmission upgrades, and what regulatory changes would be needed to enable such a strategy. Speakers on this topic will include Aidan Connolly, head of BD FlexGen UK at Engie.
5. EU Auction Dynamics – Why is so little storage auctioned across Europe relative to renewables and what problems could this pose? Is flexibility rather than generation now the key constraint for the energy transition? A panel of experts will analyse the implications of the MACSE tender in Italy, assessing whether it reflects falling storage costs, strong confidence in merchant revenues, or aggressive developer bids that are giving rise to delivery risk. Lucie Kanius-Dujardin, global managing director at NHOA Energy, will be one of the panellists discussing EU Auction Dynamics – Kanius-Dujardin has said that the MACSE tender marks a transition in the sense that “with tight pricing and high competition, success now depends on execution excellence rather than speculative upside”. To read an interview with Kanius-Dujardin, click here
6. Risk Management & Investor Assurance – What are the key risks facing BESS assets? Grid connection, regulatory uncertainty, or technology risk? One panel session will deep-dive into the best strategies for mitigating such risks in order to ensure stable long-term returns. The session will examine what level of contracted revenue now defines a “financeable” storage asset, and also assess whether grid connection is the single biggest threat to project viability. Also under consideration will be how investors should price queue delays and curtailment in congested markets like the UK and the US. Speakers discussing this topic will include: Julian Jansen, managing director, Germany at Fluence; Daniel Sherlock-Burke, director of asset management at Gore Street Capital; and Deniz Ertan, director at GoldenPeaks Capital. Ertan has said one of the biggest risks facing battery storage assets is “figuring out the optimal revenue stack while balancing bankability and upside”. To read an interview with Ertan, click here
7. Harmonising Storage and Solar Assets – How can co-locating solar and battery assets unlock new markets, optimise returns, and accelerate capital deployment? One session will look at why battery storage developers are co-locating solar and batteries, and explore the upsides. It will also examine the key challenges in developing hybrid solar-plus-storage projects and how to overcome them. Harmony Energy CIO Paul Mason will be speaking on this topic.
8. Fully understanding battery degradation, augmentation and safety risks Degradation, augmentation, and safety risks are central to the long-term bankability of battery energy storage systems, but the industry is still to develop a proper understanding of these risks and how they should be allocated across stakeholders. While manufacturers provide degradation curves and performance warranties, real-world operating conditions—such as cycling intensity, temperature, and dispatch patterns – significantly impact battery asset life. The result is uncertainty for investors, lenders, and operators, particularly when revenue models depend on aggressive cycling in volatile power markets. Speakers on the risk management panel will include representatives from Fluence, Statkraft and Gore Street Capital.
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