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Insights

Market commentary and analysis from Endenex

14 May 2026 Secondary Materials

Why wind blade recycling skipped the easy route

The chemistry existed, but the industrial system around it never did. How form factor, feedstock identification and capital allocation kept the polyester stream flowing into cement kilns

7 April 2026 Market Structure

The time value of ignorance: how discounting and data scarcity made long-dated liabilities appear immaterial

Long-duration discounting and CPI-based escalation mechanisms suppressed scrutiny of end-of-life obligations, allowing material exposure to accumulate unnoticed across the first-generation wind fleet

16 March 2026 Cross-Asset Liability

The expanding liability curve: emerging end-of-life exposure in solar and battery storage

Solar PV and battery storage are entering maturity without established cost benchmarks, scalable recycling infrastructure, or harmonised financial assurance regimes

2 March 2026 Transaction & Valuation

The decommissioning discount in late-life wind M&A: how embedded removal obligations distort valuation and transfer risk across transactions

Uncertain removal scope and provision mechanics reshape pricing dynamics, bid behaviour, and risk allocation in secondary wind transactions with embedded repowering value