Transmission

The shift from traditional fuels to electricity presents one of the biggest infrastructure challenges of the energy transition. For industries like haulage, shipping, and logistics, accessing and managing gigawatt-scale electrical connections isn’t just difficult, it’s often the main barrier to progress.Delivering timely, affordable, and scalable access to power is critical for accelerating electrification and enabling hard-to-abate sectors to decarbonise at pace.In this episode of Transmission, Ed is joined by Mikey Clark, CEO of Relode, to explore how the company’s “power parks” aim to solve this challenge by bringing grid-scale electricity access to where it’s needed most. From siting strategy to connection reform and workforce shortages, they dive into the infrastructure puzzle that underpins net zero.Key topics include:Why hard-to-abate sectors are struggling to secure large-scale grid connections.How Reload Energy is unlocking gigawatt-scale access through its power park model.The logic behind co-locating energy and freight infrastructure.How grid delays, planning, and skills shortages are slowing delivery.Why fleet electrification could scale faster than expected and what’s needed to enable it.About our guestMikey Clark is the CEO of Relode .Before founding Relode, Mikey co-founded Pivot Power, where he led the development of a 2GW battery storage network that was ultimately acquired by EDF Renewables.He has worked across infrastructure, R&D, and grid-scale storage. At Relode, he’s focused on solving one of the most urgent challenges in the energy transition: how to connect new, high-demand users like HGV fleets, ports, and data centres to gigawatt-scale electricity, quickly and affordably.About Modo EnergyModo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn. Check out The Energy Academy, our bite-sized video series breaking down how power markets work. Sign up to the Modo Energy Weekly Dispatch for expert insights on energy storage, market shifts, and policy updates - delivered straight to your inbox every week.

Getting battery energy storage systems built isn’t just an engineering challenge - it’s a financial one. While the technology is ready and the pipeline is booming, getting these projects financed remains one of the biggest challenges in the market.From navigating merchant risk to structuring offtake agreements, financing a grid-scale battery project is a high-stakes balancing act.In this episode of Transmission, Harrison Moore, Partner at Azure Capital, joins Wendel to unpack the financial side of energy storage in Australia, what’s working, what’s not, and what’s needed next.Over the conversation, they discuss: The key steps and common roadblocks in financing battery project.How different commercial models impact bankability and investor interest.The growing appetite (and caution) from equity and debt providers.How policy shifts like the Capacity Investment Scheme (CIS) are influencing deal flow.Whether the Australian market has enough capital and advisory depth to keep up with demand.About our guestHarrison Moore is a Partner at Azure Capital, where he leads the firm’s work in energy and renewables. With over a decade of experience advising on mergers, acquisitions, and capital raising, Harrison specialises in structuring and financing large-scale infrastructure projects, particularly battery energy storage systems. His team has supported transactions totalling over 10GW of battery capacity, helping navigate the commercial, technical, and regulatory challenges that come with building grid-scale flexibility in Australia. About Modo EnergyModo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn. Check out The Energy Academy, our bite-sized video series breaking down how power markets work. Sign up to the Modo Energy Weekly Dispatch for expert insights on energy storage, market shifts, and policy updates - delivered straight to your inbox every week. https://share-eu1.hsforms.com/1kDKOqrBjTpGU82n__HV7dQexu3k

Getting battery energy storage systems built isn’t just an engineering challenge - it’s a financial one. While the technology is ready and the pipeline is booming, getting these projects financed remains one of the biggest challenges in the market.From navigating merchant risk to structuring offtake agreements, financing a grid-scale battery project is a high-stakes balancing act.In this episode of Transmission, Harrison Moore, Partner at Azure Capital, joins Wendel to unpack the financial side of energy storage in Australia, what’s working, what’s not, and what’s needed next.Over the conversation, they discuss: The key steps and common roadblocks in financing battery project.How different commercial models impact bankability and investor interest.The growing appetite (and caution) from equity and debt providers.How policy shifts like the Capacity Investment Scheme (CIS) are influencing deal flow.Whether the Australian market has enough capital and advisory depth to keep up with demand.About our guestHarrison Moore is a Partner at Azure Capital, where he leads the firm’s work in energy and renewables. With over a decade of experience advising on mergers, acquisitions, and capital raising, Harrison specialises in structuring and financing large-scale infrastructure projects, particularly battery energy storage systems. His team has supported transactions totalling over 10GW of battery capacity, helping navigate the commercial, technical, and regulatory challenges that come with building grid-scale flexibility in Australia. About Modo EnergyModo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn. Check out The Energy Academy, our bite-sized video series breaking down how power markets work. Sign up to the Modo Energy Weekly Dispatch for expert insights on energy storage, market shifts, and policy updates - delivered straight to your inbox every week. https://share-eu1.hsforms.com/1kDKOqrBjTpGU82n__HV7dQexu3k

As the UK accelerates its transition to a net-zero electricity system, the challenge of maintaining grid stability is growing. 
A key part of a balanced system is large-scale, long-duration flexibility: assets that can store energy when it’s abundant and release it when it’s needed most.But much of the capacity that can provide it already exists. One of the most mature and proven forms of energy storage - pumped hydro is able to deliver gigawatts of power in seconds, store energy for hours, and provide inertia and frequency response that batteries alone can't match. Despite being decades old, they remain some of the fastest, most reliable, and highest-capacity tools for balancing supply and demand. In a world aiming for net zero, understanding and upgrading these assets is no longer optional, it’s essential.In this episode, Delphine Chérel-Sparham - Engie’s Managing Director of Hydro UK joins Ed Porter to discuss how ENGIE is breathing new life into two of the UK’s most iconic pumped storage assets: Dinorwig and Ffestiniog. Over the conversation, they discuss:
Why pumped hydro remains unmatched for long-duration storage and grid inertia.How ENGIE is modernising vast underground infrastructure.The role of fast-responding, synchronous machines in providing inertia and flexibility to the grid.How repowering legacy assets creates headroom for more renewables on the system.Delphine’s engineering journey and her advice for young people considering careers in energy infrastructure.About our guestDelphine is Managing Director of ENGIE’s pumped hydro business, where she leads the strategy, operations, and refurbishment of some of Europe’s most iconic energy infrastructure. With over 30 years’ experience in the energy sector, Delphine has worked across gas, LNG, oil, and renewables. Today, she’s focused on revitalising legacy pumped hydro assets like Dinorwig and Ffestiniog, to support the evolving needs of a flexible, decarbonised grid.About Modo EnergyModo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work. Sign up to the Modo Energy Weekly Dispatch for expert insights on energy storage, market shifts, and policy updates - delivered straight to your inbox every week.

As the UK accelerates its transition to a net-zero electricity system, the challenge of maintaining grid stability is growing. 
A key part of a balanced system is large-scale, long-duration flexibility: assets that can store energy when it’s abundant and release it when it’s needed most.But much of the capacity that can provide it already exists. One of the most mature and proven forms of energy storage - pumped hydro is able to deliver gigawatts of power in seconds, store energy for hours, and provide inertia and frequency response that batteries alone can't match. Despite being decades old, they remain some of the fastest, most reliable, and highest-capacity tools for balancing supply and demand. In a world aiming for net zero, understanding and upgrading these assets is no longer optional, it’s essential.In this episode, Delphine Chérel-Sparham - Engie’s Managing Director of Hydro UK joins Ed Porter to discuss how ENGIE is breathing new life into two of the UK’s most iconic pumped storage assets: Dinorwig and Ffestiniog. Over the conversation, they discuss:
Why pumped hydro remains unmatched for long-duration storage and grid inertia.How ENGIE is modernising vast underground infrastructure.The role of fast-responding, synchronous machines in providing inertia and flexibility to the grid.How repowering legacy assets creates headroom for more renewables on the system.Delphine’s engineering journey and her advice for young people considering careers in energy infrastructure.About our guestDelphine is Managing Director of ENGIE’s pumped hydro business, where she leads the strategy, operations, and refurbishment of some of Europe’s most iconic energy infrastructure. With over 30 years’ experience in the energy sector, Delphine has worked across gas, LNG, oil, and renewables. Today, she’s focused on revitalising legacy pumped hydro assets like Dinorwig and Ffestiniog, to support the evolving needs of a flexible, decarbonised grid.About Modo EnergyModo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work. Sign up to the Modo Energy Weekly Dispatch for expert insights on energy storage, market shifts, and policy updates - delivered straight to your inbox every week.

Aaron Wade, Business Development Lead at Gaussian and Project Director at the Volta Foundation, dives into the current state of battery costs and technology. He discusses how lithium prices have stabilized, halting the dramatic cost declines that have driven innovation. The conversation touches on the implications for developers and integrators in a more competitive market, emphasizing that factors beyond price are now critical in designing storage systems. Wade also explores advancements in battery technology, particularly in improving longevity and performance through innovative materials.

Battery costs have shaped the pace and scale of the energy transition. For years, falling cell prices underpinned bullish business cases, opened up new flexibility markets, and helped grid-scale storage move from niche to mainstream.But what happens when those cost declines level off?In this episode of Transmission, Aaron Wade returns to unpack the state of battery pricing in 2025. With lithium prices stabilising and cell costs holding firm in the $40–50/kWh range, the era of dramatic year-on-year price drops appears to be over. That shift is changing how developers plan, how integrators position themselves, and what buyers prioritise when building or procuring storage.We dig into the structural factors behind the price plateau, explore the commercial and technical implications, and ask: if price is no longer the main lever - what is?In this episode we explore⚡ Why have cell prices stabilised around $40–50/kWh and what’s keeping them there?⚡ Are the big cost drops over for battery manufacturing?⚡ What matters more than price now when designing storage systems?⚡ How integrators are adapting to a more stable, competitive market⚡ Are buyers over-specifying solutions and adding avoidable cost?About our guestAaron is a leading figure in the battery industry, currently serving as the Business Development Lead at Gaussion, a UK-based startup focused on enhancing battery performance through magneto-enhancement technology. He also holds the position of Project Director at the Volta Foundation, where he co-authors the annual Battery Report and organizes European networking events to foster collaboration within the battery community. You can find Aaron on LinkedIn About Modo EnergyModo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work. Sign up to the Modo Energy Weekly Dispatch for expert insights on energy storage, market shifts, and policy updates - delivered straight to your inbox every week. #BatteryStorage #CleanEnergy #EnergyTransition #CapexTrends #PowerMarkets

Germany’s battery boom is charging ahead - without subsidies. So how is it working?
While many markets rely on government support to kickstart energy storage, Germany is doing things differently. With more than 500 GW of battery connection requests in the pipeline, it’s quickly becoming one of Europe’s most competitive and dynamic battery markets.
From stacking wholesale and ancillary revenues to striking new kinds of long-term contracts, we explore how Germany’s storage sector is evolving in real time and how that’s changing the game for developers, corporates, and financiers alike.
In this episode of Transmission, Martin Daronnat, Head of Flexibility and Structured Origination in Germany at Engie, joins Quentin to explore the market mechanisms, commercial strategies, and contract structures that are enabling battery storage to scale, without public funding.
Highlights include: How batteries in Germany stack revenue across energy, capacity, and grid services.Why fixed-price flexibility agreements are emerging as a key financial innovation for managing merchant risk.The role of large industrial players, and why developers and buyers are both leaning in.What other countries can learn from Germany’s approach, especially when it comes to risk appetite and regulatory design.
About our guestMartin is Head of Flexibility and Structured Origination in Germany at Engie, the French multinational electric utility. He’s at the forefront of commercialising flexibility in one of Europe’s fastest-moving energy storage markets, structuring offtake agreements, managing risk, and unlocking new revenue models for grid-scale batteries. With a background spanning power trading, corporate PPAs, and clean energy project origination, Martin brings deep insight into how flexibility is becoming investable in real-world markets.
About Modo EnergyModo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.Sign up to the Modo Energy Weekly Dispatch for expert insights on energy storage, market shifts, and policy updates - delivered straight to your inbox every week.

Martin Daronnat, Head of Flexibility and Structured Origination at Engie, dives into Germany's booming battery market, thriving without government subsidies. He discusses innovative revenue stacking across energy and grid services, revealing the emergence of fixed-price flexibility agreements for managing risk. Daronnat highlights how industrial players are reshaping the landscape and shares insights on what other countries can learn from Germany's strategies, especially regarding contract structures and navigating market volatility.

Daniel Duckwitz, Product Manager for Grid Services at SMA Solar Technology AG, shares his expertise on the transformative role of inverters in energy systems. He explains the crucial differences between grid-forming and grid-following inverters and their impact on grid stability. The conversation highlights the importance of inertia and innovation in inverter technology as we shift to a renewable-based grid. Duckwitz also discusses the benefits of grid-forming inverters in Australia and their potential to enhance the resilience of power systems amidst increasing reliance on renewables.