Giovanni Mascari

This keynote panel frames utility-scale solar through five system-level risks that now shape returns, timelines, and credibility across Europe. The discussion moves beyond targets and ambition to focus on what breaks projects, slows capital, or destroys value when solar scales fast.

• Policy volatility, market design reform, and the gap between UK/EU ambition and execution
• Congestion, curtailment, voltage control, and who carries responsibility as penetration of renewables rises?
• Cannibalisation, negative prices, capture rates, and the shift away from pure merchant exposure
• Fragmented permitting regimes, local opposition, timelines slipping beyond investment models
• Refinancing pressure, asset rotation, hybrid retrofits, and what investors now refuse to underwrite