Viaro Energy CEO Francesco Mazzagatti Discusses Europe’s Energy Shift

London, UK, November 13th, 2026, FinanceWire

Viaro Energy chief executive Francesco Mazzagatti has outlined the challenges and priorities facing Europe as it seeks to balance decarbonisation with energy security during its energy transition.

According to DNV’s Energy Transition Outlook 2026, renewables are expected to account for about 65 percent of the global electricity mix by 2040. This projection reflects a significant shift in how energy is produced and used worldwide, as more countries increase their reliance on renewable sources such as wind and solar. However, fossil fuels are projected to still provide approximately 51 percent of primary energy in 2050, indicating that the transition will be gradual and that traditional energy sources will remain part of the mix for decades to come. These forecasts reflect a worldwide perspective and do not specifically address Europe’s unique situation, where the pace and challenges of transition may differ from those seen in other regions.

The transition to cleaner energy involves more than simply replacing fossil fuels with renewables. It requires significant changes to the infrastructure that generates, transports, stores, and delivers energy. For example, new renewable projects must be connected to existing grids, and energy storage solutions must be developed to manage periods when renewable output is low. These challenges are particularly evident in Europe, where DNV’s 2026 regional outlook reports that fossil fuels currently make up about 65 percent of the primary energy mix. More than half of the European Union’s energy needs are met through imports, making energy security a pressing concern for policymakers and industry leaders alike. Europe’s reliance on imported energy highlights the importance of both diversifying supply sources and investing in domestic production capabilities.

DNV forecasts that Europe will achieve net-zero energy- and process-related CO₂ emissions by 2067, missing its current target of 2050. The regional outlook covers both EU countries and others in the broader region, and it uses a different emissions scope compared to national climate targets. This difference in scope means that the forecast takes into account a wider range of emissions sources and may not align directly with the targets set by individual countries. As a result, Europe faces the dual challenge of aligning regional efforts with national commitments while also addressing the technical and logistical hurdles of the transition.

One of the next major challenges for Europe is connecting renewable energy generation to homes and industries. Renewable energy projects are often located far from demand centers, making it necessary to invest in high-voltage transmission lines and improved distribution networks. Without these upgrades, much of the clean energy generated in remote areas cannot reach the people and businesses that need it most. Additional investment in energy storage is also required to manage fluctuations in wind and solar output, ensuring a stable supply even when natural conditions vary. Energy infrastructure upgrades are needed to ensure reliable delivery from generation sites to end users, and to support the overall stability of the grid as renewable penetration increases.

Traditional energy producers in Europe are under pressure to adapt their operations. The region is working to reduce emissions while maintaining dependable energy supplies, a balance that requires both innovation and investment. Francesco Mazzagatti, founder and chief executive of Viaro & Rockrose Energy and previously founder of energy trading group Napag, commented on the need for energy producers to sustain domestic production, improve operations, and pursue opportunities in lower-carbon energy. These efforts are seen as essential for maintaining both energy security and progress toward decarbonisation goals.

Mazzagatti stated, "Europe’s energy transition must balance the need to reduce emissions with the responsibility of maintaining a dependable energy supply. North Sea producers can play a role in that process by managing existing resources responsibly, investing in operational improvements and supporting the shift towards lower-carbon energy systems. The challenge is to ensure that energy security and decarbonisation progress together, rather than treating them as competing priorities."

Europe’s transition depends on investment across the entire energy system, including renewable generation, grid infrastructure, storage, and domestic resources. Reliable supplies are needed to meet changing demands, as energy consumption patterns shift and new technologies emerge. For Viaro Energy, upstream investment remains a priority, while diversification into lower-carbon energy forms is seen as a necessary part of the broader shift for all energy companies. This approach reflects a recognition that the energy transition is multifaceted, requiring coordinated action from producers, governments, and consumers alike to ensure a secure and sustainable future.

About Viaro Energy

Viaro Energy is an energy company focused on upstream investment and diversification into lower-carbon energy. The company operates in Europe and is committed to supporting the region’s evolving energy needs.

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