Tolls are Trending, Merchant is Waning: Structuring Bankable Deals in 2026
Time: 14:00 - 14:40
Date: 2026-02-25-S3_S4
Synopsis
- What is driving the move toward tolling and hybrid structures, and why has confidence in pure merchant exposure cooled?
- Revenue frameworks that capital providers now view as bankable for multi-hour storage
- How tolling structures distribute risk and stabilise cashflows for investors
- Why tolls have become a standout route-to-market in 2026, and how this differs from earlier cycles
- What emerging tolling providers bring to the table that fixed-price or merchant-only contracts cannot deliver
Moderator
Louise Dalton Partner - CMS
Speaker
Loic Boniface Head of Origination, Western Europe - BKW AG
Mikko Preuss Vice President, Strategy & Commercial - terralayr
Maayan As Director, Energy Storage - Nofar Energy
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