Personally, I've invested ~500k EUR in a Portuguese Golden Visa fund invested in renewables (IRR is ~7-13%). Macro speaking, renewables investments keep hitting new records. I am convinced, and if you are not, I would strongly suggest consuming more data, because you appear to have a potential blind spot in your mental model on this topic.

https://about.bnef.com/insights/clean-energy/global-renewabl...

https://www.bloomberg.com/opinion/articles/2025-10-28/white-...