Renewable sources of energy, such as wind and solar, are in the ascendance in Europe, dampening the prospects for the old guard that dominate the continent's electricity market, including nuclear, coal and gas. Although many well-established energy companies are feeling the pinch as a result of this trend, they are also having some success in identifying new ways to profit from the increasing might of renewable generation.

In countries such as Germany and Spain, the recent build-out of renewable