Redefining Energy

The supply chains in renewables are a total mess. Security of Supply, Price fluctuations, Technological changes, ESG… Acquiring equipment on time and on budget is becoming a harder challenge by the day. How to fix the supply chain for renewables?We needed to bring a real professional on the show, and that’s Özer Ergül. Özer is Group Head of Procurement with Aquila Capital. Prior to joining Aquila Capital, he was Group CPO for Lightsource BP, and started his career at Toyota and then HitachiABB. Özer is also Chair of Supply Chain Sustainably workstream with Solar Power Europe. Last year, Özer supervised a CAPEX of 4bnEUR for a 3.3GW deployment of new renewable capacity in Europe and AsiaPac. Özer delivers the four golden rules to fix the supply chains problems. More perspiration than inspiration. Very technical but eye opening.We thank our partner for the episode, Conquest Group, a Paris/Dublin-based alternative asset management firm investing in and operating long-life, high-quality assets in tomorrow’s critical infrastructure for the energy transition on behalf of his clients

We discovered Simon Moores, CEO of Benchmark Minerals Intelligence, on YouTube, during a legendary testimony during the US Senate in 2019. Simon just blew our mind, so it had been an ambition for this show to bring him on. And we did.With Simon, we analyse the whole supply chain of batteries, from mining (lithium, cobalt, nickel, graphite) to refining, down to the Gigafactories.The battery industry has managed to scale x10 in the past six years and is expected to x8-x10 (depending on who you listen to) in the current decade. That would allow the electrification of the whole transportation sector!Is there enough raw materials in the ground, are we going to go from one dependency to another? Can lithium be replaced? How is the state of the Nickel market after the 2022 meltdown? Can we create supply chains outside China? What is the impact of the IRA in the US? Will automakers get more involved in mining (we just witnessed the spectacular investment of GM in Thacker Pass)? Is there a new battery technology that would dent the domination of the Li-Ion batteries?All those questions are so much more in a very lively discussion with Simon.(We refer to Joe Lowry, that we respect and salute) ---------------Benchmark Mineral Intelligence is an independent price reporting agency (PRA), data and supply chain intelligence provider for the lithium-ion battery and electric vehicle industry. We offer subscriptions and strategic advisory services to those in or looking to enter the active lithium-ion battery ecosystem. --------------- References: https://www.youtube.com/watch?v=wv0PHIo1zzo https://www.youtube.com/watch?v=OW45rCuhIg8&t=17s https://www.benchmarkminerals.com/ https://events.benchmarkminerals.com/event/da3e1b1f-7c83-4a16-a34d-6b020d09070a/summary And also, very useful report on the State of Play in the Battery Industry https://www.volta.foundation/annual-battery-report And don’t forget our “Book of the Year 2022” “Volt Rush” on that topic.---------------We thank Aquila Capital for supporting the show

Power Purchase Agreements (PPAs) are private contracts between a producer of renewable energy and consumers. The PPA was developing consistently, mainly driven by Utilities. Then 2022 arrived and we witnessed an unprecedented volatility in PPA markets in Europe.What were the consequences of that turmoil on the PPA markets in terms of prices, tenures, counterparties? Did PPA provide good hedges to sellers and buyers?We have brought in Luca Pedretti, the COO & Co-Founder of Pexapark to dive into the intricacies of the PPA market. Pexapark is the leading analytic platform of PPAs.How has the market evolved in recent months and where is it heading? What new thinking and innovative approaches in terms of risk management are bringing solutions and give rise to new opportunities? We also talk about the detrimental haphazard proposals of market reforms by regulators, their lack of trust in the private sector, and their itching attempts to over-regulate with top down one-size-fits-all decisions, soviet style.But hope is around the corner, and the PPA market will evolve and thrive, but it will be a different market, more on a portfolio basis than on an asset basis, with different tenures and risk management systems. ---------------------------------Pexapark is a 5-year young, rapidly growing company of 100 enthusiasts providing renewable energy management software and PPA transaction services to investors so that they can independently price, analyse, manage, and transact their production on power markets. Pexapark enabled so far +20 GW of PPAs and its software is run for 1’000s of assets. Also, if you like more audio content on commodities and energy, check the HC Insider Podcast https://www.linkedin.com/company/hcgroup-global/ Finally, we thank our partner Aquila Capital, who make this show possible!

Everybody wants to buy 24/7 green electrons, but until recently, it has proven quite difficult. Most buyers of Green Energy are currently purchasing their electrons on a yearly basis, and furthermore with little regard for the location. At the same time, last century thinking has gripped regulators with frantic proposals of price caps and tentative market reforms around nodal pricing. This flurry of activity has only added confusion in the mind of renewables developers, and hence has been stifling investment. The real solution to a correct pricing of green electrons comes from several forward-thinking energy consumers such as Google and Microsoft who have now decided to target an hourly match of Green Electricity. In order to solve the issue of monitoring space and time, blockchain has come to the rescue under the form of an EnergyTag. We have brought Simone Accornero, CEO FlexiDAO, a European Start Up in charge of tracking and monitoring those Green Electrons by the hour. FlexiDAO works closely with critical stakeholders to co-create the international standard around energy-related emission compliance.Thanks to their end-to-end 24/7 Carbon-free Energy platform, companies can quantify and confidently showcase their contribution to society's decarbonization. Tracking those Green Certificates will allow to price them properly, so renewable developers will know where and when it is valuable to add green electrons on the grid, boosting the incentives to invest in storage (time) and transmission (space). The Energy timestamps are a genuine innovation in the development of the Energy Transition. Please check EnergyTag, with our friend Toby Ferenczi. (https://energytag.org/) Also, as promised, the link to the 8th Energy Storage Summit – London 22 - 23 February 2023 https://storagesummit.solarenergyevents.com/ And we thank Aquila Capital for their support!MESSAGE FROM FLEXIDAO“During this interview, Simone Accornero made the statement that international certificates from LATAM were being used on another continent and for the creation of renewable-generated steel. This statement is incorrect and was used to represent a possible future situation if market boundaries are not well defined, not a statement of fact.”

Happy new year 2023 to all our listeners. In this Episode, it is Nostradamus vs. Cassandra all over again: Laurent and Gerard review their 2022 predictions (Episode 65) and look forward to the future.How accurate were our two co-hosts’ predictions for 2022? 1) The Energy Transition is not going to be a smooth ride2) The Hydro and water crisis3) The decade of geothermal4) High Energy Prices5) Elon Musk out of Tesla6) Power Market Structure Reform.Overall, it seems to be another draw. You’ll be the judge.And here are our new Predictions for 20231) Record installation of everything Energy Transition: Solar, Batteries, Heat Pumps, EV2) Massive consolidation in the EV sector – Toyota will buy Panasonic3) Volatility in the Energy market is here to stay4) New alternatives to Li-Ion in Stationary Storage5) The Energy Transition has no plan, it just goes6) Nuclear: Westinghouse takes over Europe We thank our partner Aquila Capital for their continuous support and wish all our listeners a Happy New Year 2023.

Another year of explosive growth for the Solar Industry: production above 300GW, +45% yoy. What’s behind this staggering growth? How are the supply chain evolving? What are the “Fab four” and what new technology are they pursuing? Why are the prices not going down? How can the development of ESG in supply chain be assessed? How will the industry look in 5 years?So many questions for this booming industry and it is just starting: Solar PV capacity is expected to almost treble over the 2022-2027 period, growing by 1.5TW and surpassing coal as the largest source of power capacity worldwide, according to a report from the International Energy Agency (IEA). In its “Renewables 2022” report, the IEA expects renewables to grow by 2.4TW over the next five-year period, with an acceleration of installations in the residential and commercial rooftop market globally to help reduce energy bills. We needed answers; that’s why we brought Finlay Colville on the show. Finlay is Head of Research PV-Tech and Solar Media and the most widely admired expert around the world for his insights. (Especially now that we are wondering about the fate of our Queen of Solar, Jenny Chase, who gave up the Head of Solar at BNEF. Jenny told me she is still active. We send her our love and respect).Finlay strongly believes that the Solar industry will reach a 1TW capacity in this very decade, which is a total gamechanger than the incumbents are totally oblivious to.Gerard and Laurent agree 100%. “The incumbent energy industry has literally no idea what’s coming for them”-------Find more of Finlay Colville analysis herehttps://www.pv-tech.org/https://www.solarmedia.co.uk/--------A warm salute to our friends of Solar Power Europe.https://www.solarpowereurope.org/-------We thank the Green Recruitment Company for supporting the show. The Green Recruitment Company is the leading renewable energy and sustainability staffing company in the world. With recruiters in Europe, America, China, Australia & Africa, The Green Recruitment Company offers bespoke staffing solutions across solar, wind, green hydrogen, carbon capture, storage, investment & finance, and much more. https://www.greenrecruitmentcompany.com/--------------------Don't forget our excellent weekly sister show: Redefining Energy MINUTESApplepodcast: https://podcasts.apple.com/gb/podcast/redefining-energy-minutes/id1605111087Spotify: https://open.spotify.com/show/0mx29RlfrabGS6QErA8UD8-------------------------------------------------------Merry Christmas to all our listeners. See you on the 2nd January 2023 for our traditional previsions. (Gerard thinks he has won)

The biogas/biomethane industry is now one of the promising segments of the Energy Transition: security of supply, renewables sources, local jobs, round the clock dispatchability; the industry ticks all boxes.Biogas can basically be made from any organic material, so the three big sectors are: 1) agricultural wastes (manures and slurries, crop residues) 2) food waste (from the processed food industry or food manufacturing, but also from supermarkets and households) 3) waste water. Biogas only contains 50%-60% methane; it can be upgraded to produce “biomethane” by removing the CO2 and other impurities.Recent massive deals have made the headlines (BP acquisition of Archaea, Shell of Nature Energy, Macquarie of BayWa biogas, Nextera of Energy Power Partners) and more big players are committing capital to this industry: (TotalEnergies, Marubeni). Overall, the industry could x10 this decade.To discuss the future of biogas/biomethane, we bring on Chris Huhne, UK Energy and Climate Change Secretary from 2010 to 2012, one of the founding fathers of CFDs in the Renewable Energy Industry and currently Chair of ADBA (Anaerobic Digestion and Bioresources Association).We review the challenge of technological standardisation, government incentives, and feedstock supply chains. Will biogas solve the energy transition on its own? Certainly not. Will it be an important part of the solution? Definitely.We thank our long-time partners Aquila Capital

Geopolitics and Climate disasters have shown how fragile Energy flows and infrastructures have become. Moving electrons or molecules is becoming an ever-greater challenge in the drive to decarbonisation, affordability, and security of supply.Politics are always in the background, and the recent US Midterms elections have signaled the end of a full Democrat Congress which has been very active in financing infrastructures and the energy transition.To discuss Energy infrastructure in the context of divisive national politics and tense geopolitics, we have invited one of the savviest US Energy regulators of recent years: Neil Chatterjee. Neil is an American lawyer, political advisor, and government official who was Chairman of the Federal Energy Regulatory Commission (FERC) from 2017 until he was removed from the position by President Donald Trump in November 2020 for his “pro-climate” positions.The Federal Energy Regulatory Commission is the United States federal agency that regulates the transmission and wholesale sale of electricity and natural gas in interstate commerce and regulates the transportation of oil by pipeline in interstate commerce. FERC also reviews proposals to build interstate natural gas pipelines, natural gas storage projects, and liquefied natural gas (LNG) terminals, in addition to licensing non-federal hydropower projects.At FERC, Neil approved several key infrastructures such as Liquified Natural Gas Export terminals, and passed the landmark Order 2222, unlocking the development of Distributed Energy Resources (mini grids, VPP, batteries). With Neil, we discuss the US investments prospects in the wake of the US Midterms, the Inflation Reduction Act, the conundrum of Permitting and more generally how Energy flows are constantly being restructured.We thank our new sponsor, The Green Recruitment Company, the leading renewable energy and sustainability staffing company in the world.

The war in Ukraine has triggered a dislocation of Energy markets, especially in Europe. This has led to a point a few months ago when governments had to bail out all Utilities which were caught on the wrong side of Energy Trades. Trillions of derivatives threatened to trigger a “Lehman moment”.How did we get there? Are the Energy markets the culprits or just the symptoms? Are they beyond repairs or can they be reformed? Do they even need to be reformed? As Regulators are coming up with new ideas every week, we bring on the show the legendary Energy Trader Pierre Andurand.From Goldman Sachs whizz kid to now managing one of the best performing Energy funds on the planet, Pierre Andurand is one of the most successful Energy Trader since the retirement of John Arnold in 2012. Pierre shares with us a clear vision backed by stellar financial returns (consistently above 50% per annum the past 3 years, and above 30% over his 20-year career).Pierre delivers a masterclass in Energy switching (Oil, Gas, Renewables, Nuclear), talk about elasticity of demand and the impacts of volatility on the transition; for Gerard and Laurent, it is equivalent of having a private tennis lesson with Roger Federer.Did we have Lehman moments? definitely. Is the worse behind us? quite likely. And how do we see the future? Pretty rosy. We thank Aquila Capital for their support

Offshore Wind was one of the great development successes of the past decade, growing in 10 years from a few pilot projects to a real industry. Two zones have been at the fore front: the North Sea (with 30GW as of 2021) and China (with +20GW). Better tech, burgeoning supply chain and infrastructure, and a dramatic fall in cost have created tailwinds for this industry.Offshore Wind is now a technology considered all around the world. However, there is a little problem: the fixed bottom Offshore Industry has benefited from a unique feature of the North Sea, i.e. shallow waters (less than 70m). And if you find great wind resources offshore in a lot of places, the seabed is generally much deeper, in fact too deep for fixed bottom.Hence, some of the North Sea pioneers have been trying to crack the code of floating offshore wind. A milestone was hit when, in March 2022, Scotland awarded 15GW of seabed for floating. No more experimentation, the race is on.To talk about this new technology, its promises as well as its challenges, we have invited Stephen Bull, EVP Renewables at Aker Solutions, the Norwegian Engineering giant. Within its offshore wind division, Aker has developed a specific competence relating to foundations, transmission, marine operations, dynamic cable, mooring systems, and subsea power solutions.Stephen Bull is also Chair of Renewable UK and one the founding father of the offshore wind industry in the UK when he was at Equinor leading the development of Dogger Bank, the largest offshore wind park in the world.With plans to multiply offshore wind by a factor 10 in the coming decades, and floating being a key technology, Gerard and Laurent are having a great conversation on how to unlock the floating potential, and also discover how “concrete is the unsung hero of floating OSW”.This episode is produced in partnership with WindEuropehttps://windeurope.org/We thank our partner Aquila Capitalhttps://www.aquila-capital.de/en/