Despite widespread hope of a peace deal, US-Iran talks appear to have stalled.
Iran suspended peace talks on Monday and threatened the full closure of Strait of Hormuz, a crucial trade route for oil that has been effectively closed, save for a few tankers, since the U.S.-Israel attacked the Middle Eastern country on February 28.
It has sent energy markets into a frenzy, with governments and investors subsequently following as they looked to firm up alternative sources of power.
As energy prices continue to soar, there are some companies who are set to win: those in clean energy. High oil and gas prices have improved the near-term economics for operational clean energy assets, according to a PitchBook note released May 26.
The conflict reinforces the long-term policy case for domestic clean energy—but simultaneously raises input costs and delays the rate cuts that new wind and large-scale solar projects depend on,” it says.
Here are the clean energy startups analysts reckon are at an advantage, in alphabetical order. All funding figures are from PitchBook:
Altus Power
What it does: Altus develops and operates solar PV and energy storage across the US.
Investors: The Rise Fund
Total raised: Altus Power was acquired by The Rise Fund for $2.2 billion in a public-to-private buyout in 2025
Why It Wins: Altus Power’s broad regional cover of PV and storage and its focus on long-duration power purchase agreements has earned it attention from analysts.
Enpal
What it does: Enpal is a Germany rooftop solar provider aimed at making renewable energy accessible at the community-level.
Investors: SoftBank, TPG, and The Rise Fund
Total raised: $4.4 billion
Why It Wins: Enpal’s edge lies in its product ecosystem; it has put energy storage, EV charging, and home energy management into a software offering. As well as this – or “adjacent technologies,” as the analysts write — the company has seen 30% year-on-year growth as of March.
Invenergy
What it does: Invenergy develops wind and solar power projects as well as transmission and energy storage.
Investors: Blackstone, GFH Financial Group, La Caisse, and Liberty Mutual Insurance Company
Total raised: $11.17 billion
Why it wins: Headquartered in the US, analysts note its diversified portfolio spanning solar, wind, transmission, and energy storage across North America, Europe, Asia, and South America.
OX2
What it does: Headquartered in Sweden, OX2 develops solar, onshore and offshore wind, and energy storage assets across Europe and Australia.
Investors: EQT
Total raised: $1.41 billion, but it was acquired by EQT for an estimated $1.57 billion through a public-to-private buyout in 2024
Why It Wins: It has a massive 24.6GW development pipeline, as noted by analysts alongside its portfolio of energy projects and geographical spread. This suggests it can scale quickly as Europe looks for alternative and domestic power sources.
Saeta Yield
What it does: Saeta Yield is a Spain-based developer and manager of clean energy projects in Spain and Portugal.
Investors: Masdar Capital
Total raised: N/A, Masdar Capital bought the company for $1.47 billion in 2024.
Why It Wins: Analysts noted the company’s “strong pipeline”.
Summit Ridge Energy
What it does: Summit Ridge Energy operates solar plants for the community, aimed at serving homes, businesses and public organisations
Investors: Apollo Global Management, Aligned Climate Capital, and Crux Climate.
Total raised: £832.6 million (around $1,1 billion), though its cash from Apollo is undisclosed
Why It Wins: Summit Ridge Energy has a partnership with Qcells for US-manufactured solar panels, the analysts note. This suggests it is insulated from energy supply chain bottlenecks, such as in critical materials.
